The SVB failure "happened because of Silicon Valley Bank's financial missteps and due to former President Trump, along with Democrats and Republicans in congress, rolling back regulations on banks in 2018," said the group. "Focusing on donations to black organizations doing righteous change work instead of Silicon Valley Bank's executives that were selling off their stock and profiting from their extreme risks just days before the bank failed, like CEO Greg Becker who profited $3.6 million by selling company stock, is a hilarious attempt to shift blame to black people.
"Silicon Valley Bank held $212 billion in assets and $324 billion in total client funds at the end of 2022. Contributions to a variety of progressive black causes is irrelevant in the conversation about what led to the bank's demise," the BLM continued.
The BLM statement said in conclusion: "We need to be demanding real accountability both from the private sector and the government, which leads to immediate policy change, including public banking options. Until we stop protecting the interests of tech executives, shareholders, and billionaires, and start protecting Black people from their gruesome exploitation, then we will unfortunately witness many more big bank bailouts."
The fact is, most major corporations today are not run by Republican voters and donors but just the opposite -- far-left Democrat activists who put their causes and ideology ahead of sound business decisions, which is completely the opposite of what they're supposed to do. And when they do that, their businesses fail. Sources include: JustTheNews.com NaturalNews.comLAZARUS HEIST: The international ATM theft that bagged $14M in just over 2 hours
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