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Good
Are you saying we need more results like SVB and Signature?
From the article – “This administration continues to prioritize their radical policy agenda over the economic, energy and national security needs of our country, and it is absolutely infuriating,” Manchin said in a statement.
Thomas, please provide the data or evidence that ESG investing caused the bank failures. Without that, the claim is classic causal fallacy. The quotation is from a conservative Democratic Senator, representing a R+22 state, up for reelection next year. Hardly a beacon of objectivity.
What is a “beacon of objectivity” Timothy?
Manchin is a “conservative Democratic Senator”, who, if you transposed his views to the 1990s, would still be on the extreme left end of the party. I respect Manchin for stopping his party’s lemmings from jumping on the cliff in a few instances, but he’s only “conservative” because if he went any further left he’d get trounced by his own constituents–in a state that was as Democrat as they come in the 1990s.
I know one example does not define a major corporation, but when a bank like SVP promotes Jay Ersapah as the “head of Financial Management & Model Risk”, it does lead one to wonder what other decisions have elevated identitatrian principles over merit. Is Mx. Ersapah well schooled in finance? Does xie have an MBA, or at least a bachelors in Economics? We’ll never know. Xir primary qualities, as listed on various profiles, is “LGBTQ+ queer person of color immigrant”.
I know I’m a raging bigot and all, but seriously–if you’re going to put money in a bank, wouldn’t the first thing most reasonable people care about would be the following: do they understand markets and risk management? Are they going to make sound investment decisions? Are they going to do things that will grow the company? And if they choose niche identity groups over expertise in the subject that is the basis of their business, why would reasonable people think the bank will continue to flourish. Any business that wishes to out-compete SVB would simply be one notch less woke and would get competence where SVB clearly lacked it.
Objectivity of the reporting be danged: SVB clearly had other policies. And our asterisk president wants to shift business more in that direction, even to the point of vetoing a bill that had bipartisan approval.
Hard times ahead.
Is it fun living in an alternate reality? Manchin would be considered a mainstream rural Democrat if this were the 90’s. He certainly wouldn’t have been considered part of the extreme left. It’s obvious that the Republicans have shifted further right than the Democrats have shifted left.
Both parties are moving further from the middle, but the Republicans have drifted so far right that they’re resembling an authoritarian party. This is why you’re seeing the wealthy and highly educated continue moving from the Republican Party to the Democratic Party. Wealthy suburbs like Fishers, Carmel, and Zionsville are trending blue, while declining rural areas are trending red. I definitely don’t mean that as an insult either, it’s just an objective fact. This was the opposite situation decades ago.