The Rise and Fall of Silicon Valley Bank: A Cautionary Tale.
TL;DR Summary
Senator Josh Hawley claims that Silicon Valley Bank was "too woke to fail" and received federal government help because it invested in climate change solutions backed by powerful people. Hawley's claims linking the bank's situation to "wokeness" lack factual basis and have been used by Republicans to blame "woke" attitudes for national problems. Federal regulators backstopped Silicon Valley Bank depositors through the FDIC's existing deposit insurance fund, with President Joe Biden and his allies arguing that the pot of money is covered by fees on banks and not a taxpayer bailout.
- Josh Hawley labels Silicon Valley Bank 'too woke to fail' NBC News
- No, Diversity Did Not Cause Silicon Valley Bank’s Collapse The New York Times
- SVB’s collapse exposes the Fed’s massive failure to see the bank’s warning signs Brookings Institution
- Opinion | I Was an S.V.B. Client. I Blame the Venture Capitalists. The New York Times
- Opinion | Government intervention set the stage for Silicon Valley Bank failure The Washington Post
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