Wonder what bank Biden has his money stashed?
By Diana Furchtgott-Roth ~
After one of the biggest banks in the technology startup lending space collapsed last week, President Joe Biden tried to reassure Americans that their banking system was still safe. But if bank examiners are not doing their job, which was the fundamental problem in the Silicon Valley Bank crash, then customers’ deposits are not safe.
Bank documents also seem to indicate that corporate leadership may have been more interested in things like environmental sustainability, climate change, and diversity initiatives than risk management.
The collapse of one of the biggest banks in the technology startup lending space last week shows that banks need to focus on risk management, not environmental and social justice policies. Pictured: The media interviews a Silicon Valley Bank customer outside of the bank office on March 13, 2023, in Santa Clara, California. Days after the bank collapsed, customers are lining up to try…
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