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21:58 2 O < W THE WALL STREET JOURNAL. AA C 111 LIVUNIE. Un I HUI SUay, IVII. DELNES LUIn everyone to "stay calm." That never works, ever since Kevin Bacon's character in "Ani- mal House" told everyone, "Remain calm. All is well," as chaos ensued. Was there regulatory failure? Perhaps. SVB was regulated like a bank but looked more like a money-market fund. Then there's this: In its proxy statement, SVB notes that besides 91% of their board being indepen- dent and 45% women, they also have "1 Black," "I LGBTO+" and "2 Veterans." I'm not saying 12 white men would have avoid- ed this mess, but the company may have been distracted by diversity demands”

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21:58 2 O < W THE WALL STREET JOURNAL. AA C 111 LIVUNIE. Un I HUI SUay, IVII. DELNES LUIn everyone to "stay calm." That never works, ever since Kevin Bacon's character in "Ani- mal House" told everyone, "Remain calm. All is well," as chaos ensued. Was there regulatory failure? Perhaps. SVB was regulated like a bank but looked more like a money-market fund. Then there's this: In its proxy statement, SVB notes that besides 91% of their board being indepen- dent and 45% women, they also have "1 Black," "I LGBTO+" and "2 Veterans." I'm not saying 12 white men would have avoid- ed this mess, but the company may have been distracted by diversity demands”
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Matt Blaze (mattblaze@federate.social)'s status on Tuesday, 14-Mar-2023 23:40:41 JST Matt Blaze

Or perhaps, just perhaps, the nation’s supposedly leading business newspaper would have better seen these failures coming if they had focused more on market, economic, and business conditions and less on obsessively rooting out the woke menace of women, people of color, LGBTQ people, and veterans(!) gaining token admission to the corridors of power and wealth.

In conversation Tuesday, 14-Mar-2023 23:40:41 JST from federate.social permalink