The Silicon Valley Bank Collapse: Fear Mongering And Other Bad Takes

OBSERVATIONS FROM THE FINTECH SNARK TANK

Wall Street veterans and politicians have made quite a few unsupported—and, in at least one case, offensive—explanations for why Silicon Valley Bank collapsed and what should be done to rectify the situation.

What Caused The Silicon Valley Bank Collapse?

Citing the bank’s proxy statement—which noted that nearly half of its board consists of women and has “1 Black, 1 LGBTQ+, and 2 Veterans”—Wall Street Journal columnist Andy Kessler wrote, “I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands.”