SVP Collapse a Portend of Things to Come

Silicon Valley Bank’s (SVB) collapse should be a “wake up” call for all Americans, be they Democrat or Republican about the sad state of the U.S. economy. Perhaps the American people will finally wake up and understand that we’re living in in a valley of unmitigated bad times, that, in fact, a recession may have previously started. Who knows? But it doesn’t look good.

I feel bad for all of these people that lost whatever money they had saved and or invested in this woke bank. More distressing still, was the fact SVB officials sold off their stock before the doors were shuttered. It’s both sad and, to an extent, par for the course. Who knows whether the DOJ will go after them or be apathetic? They’re a woke company, so I guess not. And they’ll probably get away with it.

The Fed keeps raising rates and inflation keeps going in a northerly direction (the wrong direction). It’s not staying where it should be. Why are our elected officials blind to the Middle- and Working-class struggles? People can’t pay their bills. They can’t fill their tanks with gas. And if you think that’s a good sign, you are either a radical left leaning ideologue, an idiot or asleep at the proverbial wheel.  I don’t think it is a good sign. And we have an administration that’s imperceptive as in unperceptive to this. They just keep talking about the great times and how good they are. It’s not good.

Opinionated Postscript: Today, 13 March 2023 it was Scranton Joe to the rescue of the five most dominate companies in the information technology industry, saving a business sector that provides major campaign backing for Democrats nationwide. Per President Biden: “No losses will be borne by the taxpayers. Instead, the money will come from the fees that banks pay into the deposit insurance fund. Because of the actions that our regulators have already taken, every American should feel confident that their deposits will be there if and when they need them.” 

To say it clearly and simply, the bailout comes from taxpayers, who pay increased banking fees to cover banks’ increased fees to the deposit insurance fund. Furthermore, the current administration has pushed many of these banks into being more concerned about global warming. … These banks are badly run because everybody is focused on diversity and all of the woke issues. Instead of protecting the shareholders and their employees, they are more concerned about the social policies. Additionally, it is apparent SVB’s risk management personnel spent too much time focused on woke “DEI" nonsense. The FDIC will reopen SVB under the auspiciousness of a larger, healthier bank, but for sure, American taxpayers will be paying for the losses of depositors who made bad business decisions to leave all their cash in one bank, uninsured.