On Tuesday, the New York Post reported that of the 12 members of SVB’s board of directors, all but one were fundraisers for Democrat presidents. One was even an Improv performer. Only one had banking experience, and he only got on the board last September.
The Justice Department will investigate, but it’s Biden’s DOJ, and these are Biden mega-donors. The SEC is also looking into it.
One Hillary Clinton mega-donor, who lives near Nancy Pelosi, went to a Shinto shrine after Donald Trump won the White House to pray for the country with him in charge.
One person, Elizabeth Busy Burr, worked for Rite-Aid as an interim CEO, and she does improv.
Another worked for Barack Obama until her career failed. A third donates to all Democrats, including Nancy Pelosi. As we said, one is an improv performer.
Only one independent director is under 60, while the oldest is 78. There are seven men and five women. The executives are all white. The Board has one token black man. If he’s gay or trans, you could count him twice.
SVB Financial Group, the bank’s parent company, appointed Tom King, former CEO of investment banking at Barclays, to its board IN SEPTEMBER.
Eleven are Democrats and Democrat fundraisers with no banking experience.
The most politically connected independent director is Mary J. Miller. The 67-year-old was Obama’s undersecretary for domestic finance at the Treasury Department from March 2012 to September 2014.
In her role, she implemented the Dodd-Frank financial reform legislation that set the regulatory framework in which SVB operates — meaning she would have expert insight into the thinking of regulators dealing with the now-shuttered bank.
“Everyone knew it was the go-to bank for woke CEOs,” one source told the New York Post. “They knew they were aligned politically. The companies SVB loaned money to all had a woke agenda.”
King was the only banker, and he was appointed last September.
The report alleges that most of the SVB board lacked actual banking expertise, except for Tom King – a factor likely to be part of the Justice Department’s probe into the bank’s collapse.