Comer: Silicon Valley Bank Is ‘One of the Most Woke Banks in Their Quest For ESG Policies’
‘I worry this could be a trend and when one bank goes down, more banks could go down’
Mar 13, 2023 5:00 AM
By Grabien Staff
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EXCERPT:
COMER: “What we’ve seen early on, from the articles I've read in the Wall Street Journal and other financial publications, is they invested lot of cash, a lot of cash that I would assume they had from things like the PPP loan, government policy, and they invested it in bonds, and then because the Democrats spent too much money in all their stimulus, they — the bonds go down and interest rates go up, the Fed had to raise interest rates to combat the Democrat inflation. And then we see now coming out that they were one of the most woke banks in their quest for the ESG-type policy and investing. This could be a trend and there are consequences for bad Democrat policy. I think we need to keep an eye on all the banking sector right now."
