The W$J is totally saying 12 angry, er, white dudes would have avoided this mess at Silicon Valley Bank.
So let’s say straight White Dude Andy Kessler (the author of the editorial) is right then with one Black the board was still 92% White, which is pretty damn white. Or 92% straight, so still pretty straight.
And while I don’t know this for a fact, I will go out on a limb and say that the run on the bank was probably Straight White Dudes, you know, panicking. I think that was much more the problem than the demographics of the board.
Just sayin’.
Mock Paper Scissors 
I’m sure that by “distracted by diversity demands” he means “unwisely put most of its assets into long-term government bonds,” which was the actual cause of the failure.
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Those damn veterans prevented the bank from properly diversifying its assets when the Fed starting raising interest rates !
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Sounds like Andy Kessler has gone full DILBERT.
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Full DILBERT, like Mel Gibson did at that traffic stop all those years ago. I give this new term an estimated life span of 25 Scarramuccis.
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Those bankers have a lot of words they use to avoid saying Greedy.
w3ski
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Or a lot of words they use to avoid blaming techbro VC’s who [checks notes] were the people responsible for the run on the bank.
Or the fact that the person who was in charge of risk management cashed out $4 million of stock in Dec 2021 and who left the company in April 2022, and wasn’t replaced until this January.
I am with TG, we need to know who shorted SVB [cough peter thiel cough]
Also to paraphrase K in “MiB”:
Finally a bank with a quarter trillion dollars in deposits has no fucking business being exempted from regulations, as the smart woman (Senator Professor Warren) said when Congress did it…
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Found this in an article pulled from Business Insider, and I have a question:
How can you call something like this a “reform”? Since it is going backwards, wouldn’t it be a banking “deform”? (see: evolution vs. devolution)
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Frank Luntz. You remember the Estate tax becoming the Death tax. Well, there you go.
I dislike Frank Luntz with the heat of a thousand suns. The man is a malignancy on the life of language and definition.
https://en.wikipedia.org/wiki/Frank_Luntz
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Dude has obviously never had diversity training. But of course since he’s an unwoker it probably would be a complete waste of time anyway.
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I heard this on a YouTube video yesterday …
We should go back to the time when White Males ran the whole financial industry. Yes, back to the era known as The Great Depression.
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