Maybe if the people who ran Silicon Valley Bank (SVB) had not been so profligate, the bank wouldn’t have failed. As Catherine Salgado reportedTuesday, according to the Claremont Institute, SVB gave a staggering $70,650,000 to Black Lives Matter (BLM) and like-minded entities, and according to a report in The Daily Beast, BLM’s leadership took the largesse it had received from guilty corporations hoping to avoid charges of racism and squandered much of it on “high-end real estate, familiar consultants, ambitious grants, and more.” For the BLM leadership, it was time to let the good times roll.
It wasn’t just BLM, either. Just The News reported Friday that SVB had promised to fork over no less than $5 billion to various organizations in order to help companies that were endeavoring to assist with “the transition to a sustainable, low carbon, net zero emissions economy.” Then, after the bank collapsed, it was criticized for “prioritizing eco-conscious environmental, social and governance (ESG) investing over sound investment principles while also focusing on diversity and social justice in hiring over strict merit.” And not just in hiring, as the massive payout to BLM indicates.
But for all the money it gave to Black Lives Matter, did Silicon Valley Bank get diversity and social justice? Not quite. The Daily Beast’s May 2022 report notes that BLM co-founder and former sole voting director Patrisse Cullors “authorized a six-figure payout to be given to her child’s father for various services, paid $1.8 million to companies owned by her relatives, and ensured that her brother, Paul Cullors, was one of the highest-paid employees of BLM.”
Even worse, “tax documents not only proved that Cullors lied about misusing some of the funds (such as hosting a birthday party for her son and throwing a private Biden inauguration celebration in the multimillion dollar property intended for activists and creators), but that she did so repeatedly.” Ah, racial justice at last!
What did you expect? Patrisse Cullors herself said in 2015: “We are trained Marxists. We are super-versed on, sort of, ideological theories.” In practice, Marxism doesn’t mean actually spreading the wealth around. It means that the wealth of those who have no political power is confiscated for the benefit of those who do have political power. That’s the way Leftists always rule.
In the old Soviet Union, while all the rhetoric was about how the workers had thrown off their oppressors and were now in charge, the common people were actually more impoverished than ever, as well as more powerless. Those who really had the political power, and were supposedly running this “dictatorship of the proletariat,” meanwhile, lived it up in sumptuous dachas and feasted on gourmet meals served on the finest china. They deserved reward, after all, for all their efforts for The People, and so does Black Lives Matter today.
SVB was, of course, by no means alone in financing the luxury lifestyle of Patrisse Cullors and other Marxist BLM leaders. Just The News reports that “other big-name corporations listed in the BLM donor database included: CitiGroup and Facebook, which each gave over $1 billion, Amazon (almost $170 million), Apple ($100 million), and American Express ($50 million), among dozens of others.”
What did they all get for their money? In a certain sense, it was akin to the protection money that the Mafia would collect from small businesses: you got a real nice picture window here in your shop. It would be a shame if it were broken. For $100 a week, I can make sure that doesn’t happen. After Antifa and BLM rioted all over the country in the summer of 2020, the point was made to the big corporations: demonstrate your commitment to “social justice,” or else.
When asked about the donations bonanza it received and the possible connection of SVB’s failure to its massive donation to BLM, the Black Lives Matter Global Network Foundation (you guessed it) charged racism: “Associating a multi-billion dollar bank failure to supposed donations made to Black organizations is quite literally the definition of white supremacy — especially when it’s a bank that has been and continues to be largely run by white people.” It added in a sly pitch for Marxism: “We need to be demanding real accountability both from the private sector and the government, which leads to immediate policy change, including public banking options. Until we stop protecting the interests of tech executives, shareholders, and billionaires, and start protecting Black people from their gruesome exploitation, then we will unfortunately witness many more big bank bailouts.”
As everyone should know by now, “real accountability” doesn’t really mean that everyone should be held accountable. It just means that the people who are left unaccountable should change. But the BLM leadership is already in that category.
Miranda Rose Smith says
The funds irresponsibly shelled out to BLM may have been intended as protection money, but I’ll bet it didn’t work that way. The local mafia hoodlum knew which grocers had paid their protection money. The rioters didn’t know that American Express had paid up and they should refrain from smashing. up the American Express office.
Also, banks have no business donating to CAUSES. I support the csuses I want to support. I put my money in the bank. They can make money off it, so they can pay me interesr, by collecting interest on mortgages and loans, or by investing it RESPONSIBLY. GREEN ENERGY is not a responsible investment.
Dana F Harbaugh says
Type into ChatGPT the words “self-feeding extortion loop”…. and they even offer easy payment options.
Laurence Jarvik says
It got a government bailout.
Miranda Rose Smith says
Did the bailout come from Congress or the FDIC?
The bailout came from you and me
Get woke, get bailed out.
Spurwing Plover says
Anyone who finances and supports these criminals should go to prison for 25 or 30 years no more excuses
Andrew Blackadder says
The obese black American Lesbians that founded black LIES matter spoke out loudly about being against the basic Nuclear Family Structure (read Heterosexual), were against owning private property, spoke out loudly about their hate for the Jewish people as well as Caucasian Heterosexual Men and yet they followed the written words of a European Jewish Married man with children that owned his own Home and then the Millions of US$ donated to them was used to help their own FAMILIES, Homosexual and Heterosexual, and then they bought mega expensive Private Properties and so many ”smart” people fell for this obvious scam.
Black Olives Matter.
angel kasparov says
Go woke, go broke is a real thing. But supporting terrorist organizations such as BLM is a criminal act.
Alpha Skua says
Looks to be like Antifa and BLM are just the offspring of the Weather Underground Black Panthers and SLA
Christopher Riddle says
“Follow The MONEY”!!!!!!!!!!!!!!!!!