A series of “woke” videos have gone viral after the company behind them collapsed over the weekend.
QUICK FACTS:
- “Woke” videos produced by Signature Bank have surfaced after the mega collapse and federal shutdown of the bank over the weekend.
- Founder of Grit Capital, Genevieve Roch-Decter, shared the videos on social media, asking if it was “surprising that Signature Bank failed?”
- “Their executive team spent millions of dollars to produce music videos & TV shows about themselves,” Roch-Decter said. “Try not to cringe as you watch this.”
- The businesswoman said sources close to her who worked for Signature Bank admitted that working for the bank was like being in the television show “The Office.”
- “The Management Team was basically like the show, the Office. They’d waste money on things like producing parody videos,” the former employee said.
- Signature Bank was the same bank that closed former President Donald Trump’s accounts over two years ago, saying it could not do business with him after the events of January 6 and even urging him to resign.
BUSINESSWOMAN GENEVIEVE ROCH-DECTER WITH SOURCES CLOSE TO SIGNATURE BANK:
“Who would have trusted their money to these guys after watching this video? This is a circus not a bank,” Roch-Decter said.
BACKGROUND:
- Two days after Silicon Valley Bank’s collapse, regulators closed New York-based Signature Bank, marking the third-largest bank failure in U.S. history.
- Signature Bank was a commercial bank with private client offices in several U.S. states, including California, Connecticut, Nevada, North Carolina, and New York.
- As of September, almost a quarter of its deposits came from the cryptocurrency sector, but the bank announced in December that it would shrink its crypto-related deposits by $8 billion.
- The FDIC assured that any losses to its Deposit Insurance Fund used to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
