DeSantis: Focus on THIS Caused Bank’s Collapse

Silicon Valley Bank

( – Silicon Valley Bank, which specialized in catering to technology companies and startups, has collapsed because it became focused on “woke economics,” Florida’s Republican Governor Ron DeSantis commented.

At the time of its collapse on Friday, March 10, Silicon Valley Bank (SVB) was the largest bank in terms of deposits in Silicon Valley and the 16th largest in the United States.

In a Fox News interview on Sunday, DeSantis also blamed the development on a “morass of federal regulations” that were supposed to prevent it.

“This bank, they’re so concerned with DEI (diversity, equity, and inclusion) and politics and all kinds of stuff, I think that diverted from them focusing on their core mission,” the Florida Republican declared.

The Fox News report notes that SVB’s website contains diversity, equity, and inclusion initiatives in its overall policy.

“[SVB is] building a culture of belonging with a global workforce that celebrates greater dimensions of diversity and reflects the markets we strive to serve,” the website reads.

In his remarks, DeSantis, considered a very likely 2024 presidential hopeful, didn’t comment on the investors’ run on SVB or its investment strategy.

“We have a massive federal bureaucracy… They never seem to be able to be there when we need them to be able to prevent something like this,” the Florida governor said.

“We’ll see what they do going into tomorrow. But I think it’s just very disappointing. Kind of reminds me of stuff that we saw in the financial crisis or Bernie Madoff where you had warning signs and yet the government that this is supposed to be their job, and they always seem to whiff when it counts,” he elaborated.

DeSantis hasn’t even hinted that he would run for the 2024 Republican presidential nomination and the White House.

Yet, a trip to Iowa he made on Friday has led to reports he had told his close aides he planned to become an official presidential candidate, possibly in May.

However, he said the Iowa visit was about his new book, not his seeking the GOP nomination.

“It’s a first indication that we’ve got a great book that people are buying. Gov. Kim Reynolds is a friend of mine, and I often tell people when they ask me in Florida who else has done a good job, I always say look at what Iowa’s done. They’ve done a lot of things that Florida has done,” DeSantis commented.

He said he hadn’t done polling since becoming governor since he didn’t believe a leader should be held captive by polls.

“We have a deficit of leadership in this country. A leader leads by shaping public opinion and bringing the people with you,” DeSantis stated.

What is your opinion? Do you agree with DeSantis? Share your thoughts and views by emailing [email protected]. Thank you.