It’s rarely a good sign when banks are in the news. That’s certainly the case with the headlines generated by the recent high-profile closures of Silicon Valley Bank, Signature Bank, and Silvergate.
Anne Wilbur, right, and Jessika Harville enter a Silicon Valley Bank in Palo Alto, Calif., on Monday, March 13, 2023. The federal government intervened Sunday to secure funds for depositors to withdraw from Silicon Valley Bank after the banks collapse. Wilbur and Harville waited in line before the bank opened to withdraw funds for Wilbur Properties. t’s rarely a good sign when banks are in the news.
Taken together, these closures have raised a bevy of questions, ranging from broad concerns about the overall health of the financial system to more specific queries related to the banks’ investing strategies. Among these questions is what role, if any, the institutions’ support for and celebration of radical gender and racial ideologies had in their downfall. For most of the year leading up to its demise, for instance, SVB
its chief risk officer position in the U.S., while the administrator filling a similar position at the bank’s U.K. affiliate spent what seems to be an inordinate amount of company resources promoting LGBT causes and programs. SVB’s outsize emphasis on promoting contentious issues is also evident in its corporate giving. According toby the Claremont Institute, from 2019 to its collapse, SVB allocated more than $70 million to racially divisive organizations such as Black Lives Matter and other critical race theory-dependent groups.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank deposits rise for first time since collapse of Silicon Valley BankDeposits at U.S. banks rose slightly in the last week of March in another sign the financial system has stabilized, but lending to businesses declined.
Read more »
French prosecutors name bank chairman a suspect in Lebanese central bank probeFrench prosecutors said they have put a Lebanese banker under formal investigation, the latest move in a cross-border probe looking into whether Lebanon’s central bank governor Riad Salameh, embezzled vast sums of public funds.
Read more »
Tech companies are hiring — a lot — despite recent wave of layoffsJob postings for tech positions reached nearly 316,000 in March, the highest total in seven months, according to CompTIA’s Tech Jobs Report, issued Friday.
Read more »
Safety measures to increase in Rainey Street area after recent drownings, city saysAlmost a week after a body was found in Lady Bird Lake near Rainey Street, the City of Austin announced increased safety measures around the area this weekend.
Read more »
Austin to increase patrols near Rainey Street trailhead after recent drowningsThe drownings remain under investigation, but the Austin Police Department has stated there is no indication of foul play.
Read more »
NASCAR Makes Changes to Rule Book in Wake of Recent Penalties, Appeals RulingsChanges restrict the power of the appeals panels, make the appeals decisions more transparent.
Read more »