The recent downfall of Silicon Valley Bank (SVB), a prominent donor to the activist group “Black Lives Matter,” serves as a prime example of the dangers of woke capitalism.
As the second-largest bank failure in U.S. history, SVB’s collapse has revealed the risks associated with companies that prioritize activism over sound business practices.
The Biden administration’s decision to financially support the bank without explicitly calling it a “bailout” further emphasizes the need for conservative vigilance in the face of such actions.
SVB’s $74 million pledge to “Black Lives Matter” and related groups, as reported by the Claremont Institute, raises concerns about the bank’s focus on left-wing activism rather than protecting its customers’ deposits.
Will Hild, the executive director of Consumers’ Research, has noted that companies heavily involved in woke politics often perform poorly in customer service.
The Biden administration’s intervention in the SVB case sets a dangerous precedent that could lead to more instances of moral hazard.
By bailing out a bank that prioritized left-wing activism, the administration is effectively encouraging other institutions to follow suit, which could result in a domino effect throughout the banking industry.
As conservative opinion writers, it is our duty to shed light on the potential consequences of the administration’s actions. The infiltration of woke politics into the foundations of American capitalism must be stopped, and the Biden administration must be held accountable for its role in perpetuating this trend.
It is crucial for conservatives to remain steadfast in their opposition to government intervention that serves to further left-wing activism. By continuing to speak out against such actions, we can help ensure that our taxpayer dollars are not used to bail out companies that place activism above the best interests of their customers and the country.