Is ‘Wokeism’ to Blame for Silicon Valley Bank’s Demise? No and Yes

Conservative Daily News Reports: What’s clear is that “wokeness” is intertwined with the concept of Diversity, Equity, and Inclusion (DEI), an idea broadly defined as a “framework that seeks to promote the fair treatment and full participation of all people, especially in the workplace, including populations who have historically been under-represented or subject to discrimination.”

Treating all people fairly isn’t a particularly controversial or revolutionary idea, but critics of “wokeness” complain that DEI initiatives go beyond the fair and equal treatment of individuals, giving preferred treatment to historically marginalized groups. Moreover, there’s a concern that corporate DEI initiatives are emphasizing social causes over sound business practices and maximizing shareholder value.

For example, SVB famously pledged to provide at least $5 billion “in sustainable finance and carbon neutral operations to support a healthier planet.” The bank—which is currently in bankruptcy proceedings—also donated $73 million to Black Lives Matter and similar social justice causes.

Meanwhile, video has emerged of Signature Bank Chairman Scott Shay, whose bank was recently shut down by regulators, offering a lengthy tutorial on the proper usage of gender-neutral pronouns.

Even proponents of DEI initiatives would likely concede these are “woke” practices. But did the “woke” lectures and programs have anything to do with the collapse of SVB and Signature Bank, both of which unfairly ( and dangerously ) received bailouts from the federal government?