Home Depot co-founder Bernie Marcus believes the collapse of Silicon Valley Bank “will finally wake up” Americans to “understand that we’re living in very tough times.” Marcus told Fox News that the “system [and] the administration has pushed many of these banks into [being] more concerned about global warming than they do about shareholder return. And these banks are badly run because everybody is focused on diversity and all of the woke issues and not concentrating on the one thing they should, which is shareholder returns.”
From The Washington Times:
Treasury Secretary Janet Yellen said Sunday that the federal government will not bail out the bank, despite calls to do so. “Let me be clear that during the financial crisis, there were investors and owners of systemic large banks that were bailed out, and the reforms that have been put in place means that we’re not going do that again,” Ms. Yellen said on CBS’ “Face the Nation.” “But we’re all concerned about depositors and are focused on trying to meet their needs.”
