{"id":266339,"date":"2023-03-14T07:28:46","date_gmt":"2023-03-14T07:28:46","guid":{"rendered":"https:\/\/www.thetruthseeker.co.uk\/?p=266339"},"modified":"2023-03-15T08:19:35","modified_gmt":"2023-03-15T08:19:35","slug":"silicon-valley-bank-svb-update","status":"publish","type":"post","link":"https:\/\/www.thetruthseeker.co.uk\/?p=266339","title":{"rendered":"Silicon Valley Bank (SVB) Update"},"content":{"rendered":"

Irish Savant — irishsavant.net March 13, 2023<\/strong><\/h1>\n
\"\"<\/a>In case you missed President Bribem\u2019s speech today let me provide you with my assessment of its key points. I learned three things: That the financial system is on the point of collapse; that the bank will be bailed out with taxpayer money + the printing press; that those responsible for the collapse will as always get away scot free, bonuses in pocket. What did Bribem say to make me draw these conclusions?<\/div>\n

That the financial system is on the point of collapse: Bribem<\/strong> \u201cAmericans can have confidence that the banking system is safe<\/em>. Your deposits will be there when you need them<\/em>.\u201d<\/p>\n

That the bank will be bailed out with taxpayer money + the printing press: Bribem<\/strong> \u201cNo losses will be borne by the taxpayers<\/em>. They [investors] knowingly took a risk, and when the risk didn\u2019t pay off, investors lose their money<\/em>\u201d<\/p>\n

That those responsible for the collapse will as always get away scot free, pocketing their bonuses on the way out: Bribem<\/strong> \u201cThe management of these banks will be fired<\/em>. I\u2019m firmly committed to holding those responsible for this mess fully accountable\u201d\u00a0<\/em><\/p>\n

The SVB collapse clearly represents a colossal failure in the bank\u2019s risk management structures. How could this have happened? From the Daily Mail<\/a>: \u201cSVB had NO head of \u2018risk assessment\u2019 for nine months before it collapsed\u2026 as woke boss for Europe, Middle East and Africa was busy organizing a month-long Pride campaign and a \u2018Lesbian Visibility Day<\/em>\u201c. SVB\u2019s former head of risk, Laura Izurieta left the bank in April 2022 and wasn\u2019t replaced until January 2023 when the bank hired Kim Olson. Meanwhile Jay Ersapah, the Head Of Risk Management for the rest of the world, and who describes herself as a \u201cqueer person of color from a working-class background\u201d has been busy busy busy, organising a host of woke\u00a0initiatives including a month-long Pride campaign and implementing \u2018safe space\u2019 catch-ups for staff.<\/p>\n

\"\"<\/a>In a corporate video published just nine months ago, she said she \u201ccould not be prouder to work for SVB serving underrepresented entrepreneurs\u201d. Professional network Outstanding listed Ersapah as a top 100 LGTBQ Future Leader. \u201cJay is a leading figure for the bank\u2019s awareness activities including being a panelist at the SVB\u2019s Global Pride townhall to share her experiences as a lesbian of color, moderating SVB\u2019s EMEA Pride townhall and was instrumental in initiating the organization\u2019s first ever global \u201csafe space catch-up\u201d, supporting employees in sharing their experiences of coming out\u201d her bio on the Outstanding website states. It adds that she \u201callies\u201d with gay rights charity Stonewall and had authored numerous articles to promote LGBTQ awareness. These included \u201cLesbian Visibility Day and Trans Awareness week\u201d.\u00a0Separately she was also praised in a Facebook post by the group \u2018Diversity Role Models,\u2019 a charity which campaigns against homophobic, biphobic and transphobic bullying in UK schools.<\/div>\n

In fact she, whoops, I mean \u2018they\u2019 seemed to be doing everything apart from, you know, Risk Management. (Scratchin\u2019 ma\u2019 haid\u2026..)<\/p>\n

Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As Irish Savant explains, many of the key figures involved in the recent banking crisis seemed more concerned with promoting LGBTQ awareness than with financial risk management. As a result taxpayers will bail out the banks while those responsible for the mess will get away, pocketing their bonuses <\/p>\n","protected":false},"author":150,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[61,58],"tags":[],"class_list":["post-266339","post","type-post","status-publish","format-standard","hentry","category-Commentary","category-Current_Affairs"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/266339","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/users\/150"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=266339"}],"version-history":[{"count":5,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/266339\/revisions"}],"predecessor-version":[{"id":266358,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/266339\/revisions\/266358"}],"wp:attachment":[{"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=266339"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=266339"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thetruthseeker.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=266339"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}