Signature Bank Hosted Gender Pride Seminar, Wasted Money on Music Videos 5 Months Before Its Collapse
It turns out struggling banks, SVB, Signature Bank and Credit Suisse, donated $1.2M to Democrats since 2017.
The banking industry is receiving a great deal of attention in the wake of the collapse of the Silicon Valley Bank (SVB). Some discoveries have been astonishing, as the institutions have clearly focused more on social policies than sensible fiscal business activities.
As I noted in a previous report, Signature Bank has become the 3rd biggest bank collapse in US history. It turns out that five months before this happened, the institution hosted a seminar for gender-neutral pronouns.
A video circulating on social media shows chairman Scott Shay of the bank – that was shut down by regulators at the weekend to avoid a US banking crisis – along with corporate consultant on gender issues Finn Brigham.
The Pride Council event presented Brigham, who works as director of project management for the Manhattan-based nonprofit Callen-Lorde Community Health Center – an LGBTQ health clinic- as a ‘genderqueer trans masculine person.’
The video which goes for more than an hour sees Brigham and Shay delivering a lecture about ‘pronouns’ with the ultra-woke company seizing the opportunity to laud their title as the ‘first bank in the United States to have an openly gay man on the board.’
It was in reference to Barney Frank, former Massachusetts congressman, who co-sponsored legislation regulating banks following the 2008 financial crisis only to this week have his role on the Signature Bank board come under fire.
The clip then shows Brigham run down a list of pronouns who says: ‘The most common pronouns folks are familiar with are ‘she’ and ‘he.’
Signature Bank had multiple "Pride Meetings" they paid for, which included company watch parties mentioned in this video.
Aren't you glad the FED bailed them out by creating more money out of thin air?#Inflation#GoWokeGoBroke https://t.co/wlS8jv0km1 pic.twitter.com/zZzef2YjqD— Justin Theory (@realJustATheory) March 14, 2023
As their assets were declining in value, Signature Bank was focused on creating music videos.
Is it surprising that Signature Bank failed?
Their executive team spent millions of dollars to produce music videos & TV shows about themselves
Try not to cringe as you watch this: pic.twitter.com/16K70FQq5o
— Genevieve Roch-Decter, CFA (@GRDecter) March 13, 2023
A deeper look at SVB has revealed that just one member of its board of directors had a career in investment banking, while the others were major Democratic donors.
Tom King, 63, was appointed to the board in September after previously serving as the CEO of investment banking at Barclay’s. He has had 35 years of experience in investment banking.
But he is the only one on the board with a career in the financial industry, while others are a former Obama administration employee, a prolific contributor to former House Speaker Nancy Pelosi and even a Hillary Clinton mega-donor who prayed at a Shinto shrine when Donald Trump won the 2016 presidential election.
The board is now being investigated by federal authorities after it failed to prevent the bank from going under while it was investing clients’ money in risky low-interest government bonds and securities.
It has previously been accused of being too focused on woke issues.
When the bank fell on Friday, it touted that its board included ‘1 black,’ ‘1 LGBTQ+’ member and ‘2 veterans.’ It also noted that its board is 45 percent women.
The connection with leading Democratic politicians may explain the rapid “no-bailout bailout” that these banks have received. Three wineries owned by California Gov. Gavin Newsom are clients of Silicon Valley Bank, and the governor has long maintained personal accounts at the institution.
The news that Newsom has had personal accounts at the bank was revealed by a former staffer who spoke to The Intercept on the condition of anonymity. The three Newsom-owned wineries, CADE, Odette and Plumpjack, are listed as clients on the bank’s website.
The report also said that a Silicon Valley Bank executive made a $100,000 donation to the California Partners Project — a charity founded by Newsom’s wife, Jennifer Siebel Newsom — at the behest of the governor and that a bank executive sits on the charity’s board of directors.
It turns out that SVB, Signature Bank, and Credit Suisse bet big on Democratic candidates over the past three election cycles, according to a New York Post review of fundraising data.
The banks — through their employees and affiliated PACs — donated nearly $1.2 million to Democrats between 2017 and 2022, according to the government transparency group OpenSecrets. Republican candidates got less than $750,000 over the same period.
All three banks spent big to defeat President Donald Trump in 2020, collectively giving $198,926 to Joe Biden’s presidential campaign.
SVB, Signature Bank and Credit Suisse jointly gave just $17,597 to Trump in 2020 and $5,516 to his upstart run in 2016.
Now the “contagion” hasspread to Credit Suisse, which recently saw its stock drop to a record-low price level.
The bank reported Tuesday that “certain material weaknesses in our internal controls over financial reporting” had been detected, leading management to describe those controls as “not effective” for 2021 and 2022.
The original publication date for the 2022 annual report in which it made that disclosure had previously been pushed back from the prior week.
The disclosure was made before the dip to the record low Tuesday, with shares for the bank subsequently being priced around $2.50 by the afternoon.
If you are seeking a reason the feds raced to the rescue this weekend, wonder no longer.
DONATE
Donations tax deductible
to the full extent allowed by law.
Comments
They knew the American taxpay was on the hook for it all. Intersectionality can rule when the rest of the county is footing the bill. They had already bene told no worries as long as the “donations” keep coming in.
Shared responsibility prosecuted through progressive prices and availability.
It’s all one big swamp – and the GOP is in it:
Meet The Seven GOP Senators Who Voted To Confirm Biden Nominee With Ties To Alleged Chinese Communist Intel Groups:
Republican Sens. Bill Cassidy of Louisiana, Susan Collins of Maine, Steve Daines of Montana, Lindsey Graham of South Carolina,b Bill Hagerty of Tennessee, Roger Marshall of Kansas and Todd Young of Indiana voted to confirm Garcetti following a delay of over 20 months arising from allegations that, while in office, he helped cover up sexual assaults committed by his former aide, Rick Jacobs. The confirmation vote, 52-42, also comes just days after the Daily Caller News Foundation revealed that a mayoral fund set up by Garcetti accepted over $1 million in donations from individuals who belong to alleged CCP influence and intelligence fronts.
https://dailycaller.com/2023/03/15/eric-garcetti-cassidy-collins-daines-graham-hagerty-marshall-young-ccp-ufwd-china/
They are woke until you are broke. New paradigm.
Banks are playing gay and carefree with fiduciary responsibility to their shareholders and clients.
Sex: male, female. Gender is sex-correlated attributes (e.g. sexual orientation): masculine, feminine, respectively. Pride is a cultural and scientific label given to lions, lionesses, and their [unPlanned] cubs playing in gay revelry. The Rainbow, black and brown excluded, is a symbol and representative rhetoric of albinophobia, a state of psychiatric dysphoria. #HateLovesAbortion
Traditional stodgy managers were just as dumb back in the day. It was just less polarized and so produced less clickbait.
Books like The Peter Principle or Gamesmanship did cleverer sendups.
Starting around the 70s the form of attack changed to each side simply quoting the other side without comment.
Wayne Booth “Modern Dogma and the Rhetoric of Assent” 1974 noted the new style of argument where each side has nothing rational to say to the other. He was a U Chicago dean, a job he described as fund-raising and riot control.
Also around the 80s theories of management started to make inroads, e.g. sandbag your best workers in order to produce team effort. This sold to upper management and resulted in the promotion of your manager.
Team effort: two do the work, the most charismatic of the do-littles get the promotions.
The banks’ hyper-emphasis and money spent on Leftist sermonizing and agitprop (and, lets note that this phenomenon is no limited to only the banking sector, sadly) reflect the general moral bankruptcy and rot of the Dumb-o-crat Party, at-large. Narcissistic, self-aggrandizing preening and virtue-signaling stunts matter more than exhibiting basic professional competence and diligence.
Their clients, depositors, business affiliates were largely speaking on board with the weirdo leftist causes. If not they would have found another home for their capital. Most of these folks were just as knee deep in the excesses of the leftists as their banks were.
This was a leftist oriented ecosystem; depositors, clients, managers, directors, politicians and to a degree regulators who more concerned with joining the cache of woke heterodox ideology than the stability of their cash.
That’s probably true of the corporations who had mega-millions stored at the bank… but a lot of small apolitical depositors (Mompreneurs, crafters) had months of revenue wiped out that were in accounts consolidated/commingled under larger umbrellas like Etsy and Spoonflower.
True. Yet these folks did choose to work through Etsy which is itself woke. The key issue here, IMO, is complacency on the part of everyone involved; bank management, regulators, rating agencies, depositors, shareholders and investors.
Everyone just went along fat, dumb and happy. Now that the train they chose derailed they want special treatment and to claim victim status. Personal responsibility, accountability and consequences for poor decisions seem to be shunted to the side.
Wasn’t there money they were blowing, just like Sam Bank-Fraud did.
Get queer; go broke.
This is what happens when women and gays are allowed power in a corporation; they turn it into a kindergarten
For every Golda Meir or Maggie Thatcher there are thousands of Patty Murrays and Maxine Waterses
At first, I thought those people in the feathers were supposed to be chickens. Then I noticed the tar on their faces, and realized they were prophets.
“Barney Frank, former Massachusetts congressman, who co-sponsored legislation regulating banks following the 2008 financial crisis only to this week have his role on the Signature Bank board come under fire.”
Barney Frank was the single biggest culprit in causing the 2008 meltdown.
A bank that puts Barney Frank on its board is even stupider than a girls’ school that puts Ghislane Maxwell on their faculty.
Bawney Fwank, the moron who had a prostitute as his “roommate” for years while in the Congress. He pushed the idiotic idea that “everyone deserves to achieve the American dream of home ownership” resulting in crap like 125% LTV loans and “NINJA” (no income required) lending to vast swaths of people who had no capacity to repay their obligations. This was the “equity” BS before it had that name. He should be in jail for the damage he caused our country. Instead he gets his name on the legislation (supposedly) intended to “fix” the very mess he created. Typical DC crap.
Not enough upvotes on that. Exactly. W Bush dumbly played along and got tagged with the whole mess.
I want to know who got their money out before the collapse and who told them to do so.
Customers who got fleeced are conspicuously silent. Go woke, go broke, go miserable.
This seems to support the adage that “what can’t go on won’t.” Such nonsense but it has proven costly.
Yes, but it may go on longer than it should and cause a lot of collateral damage when it comes crashing down.
I see that this is just a clip but have the “Generic Mega Bank” singers been tarred and feathered or do they identify as some kind of bird?
See here.
But did they spend a few tens of millions on a sock puppet Super Bown ad?