The Disaster of Woke Capital

[View in browser](=.q04UFasaQKGkwz-4rJUAVW9DGd3ogwTd9O0ynpKbjd8) This week, the United States suffered the second-largest bank failure in its history. The consensus view is that Silicon Valley Bank made a huge mistake by borrowing short-term and then parking money in long-term bonds. When interest rates rose, assets lost value, and SVB was put in a perilous position. President Joe Biden promised a “full accounting” of the situation and that everyone would be held “accountable.” However, this would require [President Biden to take responsibility](=.C3cZcH8OaK2usRJYWEpd5ZMA8ja8KqJwRO5c7IABB4o) for the reckless governance that helped create the environment that made this possible in the first place. To make matters worse, the Claremont Institute exposed that the collapsed bank donated or [pledged to donate nearly $74 million](=._eAphlezJsfkZ2ropWsBrNgUy7Kj1u0nmj28pY8x3z0) to groups related to the Black Lives Matter movement. Public reports also show SVB spent $2.8 million on “gender parity innovation” and “diverse emerging talent." Public records also showcase the bank's corporate leftist apparatus prioritized Environmental, Social, and Governance (ESG) standards over its fiduciary duty to shareholders. Will Hild, the executive director of Consumers’ Research, told The Federalist this week that SVB’s failure on the heels of its left-wing activism “is yet another indication that SVB was focused on woke virtue signaling instead of protecting their customers’ deposits.” “Time after time we see the same pattern: companies that are the most concerned with ESG scores and woke politics do the worst jobs serving their customers,” Hild explained. [The rest of corporate America](=.aq9q2ds9A2qrBOaYB99zgGW29BJkIwGNjY-ePd41Zzo) should learn from SVB’s failure now before it’s too late. [Support Our Work](=.T35FTfpb0IKZWmIigahaq0PVIpldBPSmHQijUQCcyJs) Popular Federalist articles this week:=.7z4xlPl9OZuAVBuw3J0ovR2bIFO8DgeLCtV3-lorqwc =.1urYdjt9DcKYeRtY0Oy0RyNDWlLBv4ob2ag-NDRWf6U - [Mike Pence Pandering To D.C. Media Is Pathetic And Disqualifying](=.aMYGdUO7LrR1DGgJzPBVE_z8lnMdKAf7ytM3gzKwHJI) - [What The Media Did To America Is Far Worse Than The Pandemic Ever Was](=.eoBS-TRSkm5obRiAIFik5DcEGLFiIdGhF2LJ3VQUeX4) =.EADtLgUrSz9v79dvjFchMNv7XgAursvbaYW_ATzxlkU - [The Stanford Free Speech Debacle Is Another Reason Universities Need To Fire 99.9% Of Their Administrators](=.K_WUpAmJWOR_eYmhop5qwWNzDSkN6d67KAbG_8xOQhM) - [PolitiFact Tries To ‘Fact-Check’ A Federalist Article On Democrats’ Dark Money Election Takeover And Fails Miserably](=.oAMGjyCMyMd2mIq9HrlhkMBYNxSKGzXqwWzs3e5AG6A) - [Secular Media Is Getting ‘Scandoval’ All Wrong](=.vdV1ZlVmBtHB9D7BAzLQTxN_6gPX4xayAumbyhmjZFo) =.1gi-RvAgQ_iK6LMtJr6HFE7cHEHqEbq-lQBhFssMOZI Hemingway: Republicans Want Strong Defense, Not Neocon Incompetence =.4rE44HSlZFvm4lrROAiQmLWJcegF6nQz5eEGkvxDuq8 =.wqNwneEonRThWvPxN-IAXE1w8FvR4kZZC8V5vYgcMIk Check out this week's Federalist Radio Hour episodes [here](=.e19Hax-IIUo0D2N33lSEyyiklBKUxHbWJc-Yev1psRE). Every day, The Federalist successfully combats the left’s many lies. And we want to do more of it. With your support, The Federalist can continue and expand the fight. [Support Our Work](=.21MFGhu5I3DlGZbb12nAPGerDvJm6zDXyy5ZVb0QM14) [facebook](=.CcHRa_nGtw4cVafL0jpZ_cIrnJGC9oZVnaTgQEs9zZg) [twitter](=.kwI9-nRKmjZ94xz7nN5q2BmmSLKh1uSmOhlacXN4Jk4) [instagram](=.vv95nOYbbEQa40yFxmL3jIijYpaEg--TAtfHagR6YWc) [youtube](=.QQ6iO7ZUzmbGIhmb0QXBXHC8U7GUnczZ4U2PJe0_qwg) [rss](=.kqHj1TxJocrYg0WmCISh8ihVVxPsy_2tHgvt1_l41Sg) The Federalist © 2023 THE FEDERALIST, A WHOLLY INDEPENDENT DIVISION OF FDRLST MEDIA. ALL RIGHTS RESERVED. You received this email because you signed up on our website or made a purchase from us. [Unsubscribe](=.Jw4xMc7pHtHrJjwOl9JU9QM-4jF-7hwtIa5H3CSYNqI) [Sent by MailerLite](=.wKZVecrdkOomPOrr6LMReqRENwSnCn3eJ_cPn1AuZgc)