SVB LITERALLY got woke, went BROKE.
As reported by Just The News, the transcript of an investors’ call that took place last July shows that some major investors were beginning to voice their concerns about the bank prioritizing politics over investors’ returns. While representatives from SVB used the call to boast about the company’s diversity, equity, and inclusion (DEI) measures as well as its commitment to gay pride, J.P. Morgan official Steve Alexopoulos demanded answers on one particularly devastating quarter’s losses.
“So if we look at the $137 million of investment losses, which are detailed on Page 7, that declines a bit more than we’ve seen in other periods, right, is over 8%, typically you’re like 2% to 3%,” Alexopolous said.
Full article here:
https://amgreatness.com/2023/03/14/silicon-valley-bank-doubled-down-on-far-left-policies-despite-hundreds-of-millions-in-losses/?utm_medium=email&utm_source=act_eng&seyid=54366
