Very politically incorrect interpretation of the banking crisis
Who had to supervise the two failed banks (plus a third now in crisis) of San Francisco was the Federal Reserve of San Francisco at the head of which the Minister of the Treasury, Janet Yellen had placed Mary Daly, graduate of a B-level social sciences universitywho dealt with ClimateChange, Black Lives Matter and GayLesbianTrans issues as she is also a member of the group
Silicon Valley Bank had donated $70 million to the Black Lives Matter movement, the protagonist of fires and looting across America in 2021, and was aimed at promoting gender diversity. At Silicon Valley Bank, one of the directors of the English branch is a trans man who some days shows up dressed as a woman like “Pippa” and some man days like “Philip” and this example is celebrated in English banking publications.
The head of risk management of the bank, Jay Ersapah, Head of Financial Risk Management, is a black woman who “identifies as queer” i.e. neither female, male or bisexual and spoke of nothing else about initiatives on racism, “gaytranslesbian” and “climatechange” issues and was the head of the bank’s European LGBTQIA group. In her blog, she spoke of “gay, trans, lesbian quuer awareness month” and not interest rate risk management.
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