From WSJopinion: What inspires a bank to disregard risk and shower money on products or services that nobody is clamoring to buy? One answer is easy money and misguided regulation. The other? Washington handouts, writes KimStrassel.
Wonder Land: How is it that the U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corporation could have been spooked into a premature all-depositor bailout following hysterics on a social-media platform? Images: Shutterstock/Zuma Press Composite: Mark KellyIf government funds it, they will come. That’s an overlooked story line in the collapse of Silicon Valley Bank. If Washington wants to point fingers, it should aim the biggest digit at itself.
Let’s talk about what actually imploded over the past week. If the name wasn’t already a giveaway, SVB was the lender of choice for tech dreamers. It claims to have banked nearly half of all U.S. venture-backed tech and healthcare startups. Yet in recent years those clients have skewed ever more in one direction. “We serve those creating positive environmental change,” SVB’s website brags, noting that the bank worked with some 1,550 companies in the “climate technology and sustainability sector.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Two one-way flights or one round-trip ticket: Which is better?Booking a flight involves navigating a maze of decisions. Is it better to fly with a budget airline or full-service one? How about basic economy versus regular economy? And would you prefer pretzel…
Read more »
BlackRock Chief Larry Fink's Latest Letter Shies Away from ESGAs the political backlash increased with the anti-ESG movement, BlackRock CEO Larry Fink appeared to have taken a different approach in his annual letter to investors regarding environmental, social, and governance investing.
Read more »
BlackRock CEO Larry Fink dials back ESG talk in letter after backlashInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Utah state treasurer, leader in movement against corporate wokeness, says ESG part of 'Satan's plan'Utah State Treasurer Marlo Oaks on Saturday blasted a controversial investing movement that critics decry for pushing 'woke' political causes as being part of 'Satan's plan.'
Read more »
BlackRock’s Larry Fink omits 'ESG' from annual letter after recent GOP blowback.BlackRock CEO Larry Fink's much-anticipated annual letter deemphasized talk about the climate and said that companies aren't “the environmental police,' a notable shift from the tone in recent years that has made him a top target of conservatives.
Read more »
BlackRock cools ESG tone amid blowback but defends climate investing strategyBlackRock is walking a fine line in what has become one of the most hot-button culture war issues that red America calls woke capitalism.
Read more »