Fox News Blames "Wokesters" For SVB Collapse

Fox Business's Larry Kudlow blamed the collapse of SVB on "wokesters".

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Matt Binder DOOMED

Brandon Sutton DISCOURSE

Emma Vigeland ESVN

Matt Lech LEFT RECKONING

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Check out more from the MR crew:

Matt Binder DOOMED

Brandon Sutton THE DISCOURSE

Emma Vigeland ESVN

Matt Lech LEFT RECKONING

Spaghetti Seder: Emma's SVB WSJ tweet was featured in Vanity Fair. Was that the one where it's back was destroyed by wokeness? Yeah I mean it was I was responding to Andy Kessler's op-ed in the Wall Street Journal basically where he said that you know just asking questions about how SVB had a woman on their or women on their board and were required to have an LGBTQ person and the black person on their board were they too distracted by that and that's why they ended up crashing. I mean just completely childish ridiculous stuff. And frankly, it's light white supremacy that is being featured in the pages of the Wall Street Journal. And it just made me so angry that I couldn't even speak. It's Timeless. We talked about the 2008 stuff where conservatives are like we did too much to put black people into homes. But this is America and any sort of financial crisis in 1873 you have people saying well we're spending way too much time occupying the South still. We need to conquer like say the Black Hills so we can get some silver to get this economy going again. Like the sort of right supremacist sort of obfuscation of a financial crisis for further like you know just to like to unshackle them, even more, is timeless in this country. It's not just the pages of The Wall Street Journal. Apparently, there was Memo sent out that there was a black person on the board of this bank and that must be the problem with its insolvency. How many black folks are on the board of Credit Suisse? Do we know? Because in fact maybe we should be making this knowledge public. because that way we can start to make investment decisions. I put all of my money out of any bank that said anything about diversity at any point. exactly. but here is Larry Kudlow with his sober analysis of what happened. it was reported that Silicon Valley Bank had to pay up to over five percent to attract uninsured deposits. so that's a huge asset-liability mismatch, right? treasury bonds yielding three and a half four percent. well, where Mary Daley and her team at the San Francisco fed while all this incredibly inept management was butchering the bank. then you read about a five billion dollar one-chunk investment. well, pause it. Now hold on, I want to make it clear there and that first line. He's asking where the head of the San Francisco Fed is in terms of Regulation? This is regulation; these are regulation decisions that Jerome Powell oversees. nobody is going freelancing on imposing their own regulation.