According to a report, the Silicon Valley Bank (SVB), board of directors collapsed in 48 hours. It was composed of staunch Democrats.
SVB was hit by a liquidity crisis last Wednesday that caused it to lose $1.8billion in bond investments.
Enforcement agencies are now looking into the management of this bank. The 16th largest bank in the country has been placed under strict scrutiny.
The New York Post reported Tuesday that 12 out of 12 directors at SVB were supposed to prevent the bank’s catastrophic mistakes. He also owns a Napa Valley winery, just 15 minutes away from Nancy Pelosi.
According the report, the bank had incorporated Democratic alignment into its overall strategy.
The Post reported that members of the board donated to Clinton, Obama, and local Democratic congressional representatives including Pelosi.
One source says everyone knew that SVB was the bank to choose for CEOs who are woke.
According to the report, most of the SVB board members lack bank expertise. Tom King is unlikely to be included in the Justice Department investigation into bank collapse.