“Wokeness” is a useful scapegoat for Silicon Valley Bank’s collapse and other capitalist disasters.
, meanwhile, reports that in late 2020, SVB execs rejected “an internal recommendation to buy shorter-term bonds as more deposits flowed in”—a course of action which would have “reduce[d] the risk of sizable losses if interest rates quickly rose”—because it would have been too costly up front. correctly identify a potential problem, but the reason it wasn’t addressed was financial rather than ideological.
Claims that this or that thing was consumed from within by wokeness, though, need not be deeply rooted in fact to divert a news cycle away from uncomfortable questions about, for example, the number of Republican senators who voted in 2018 to.
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