RISING INTEREST RATES OR WOKE POLICIES

The cause of the Silicon Bank failure is reported to be woke policies, rising interest rates, or both. Of course, “Big Guy” Joe said it was not me, it was the other guy. Woke polices and rising interest rates would be6 the reasons.
First, let us look at woke policies. Woke policies include many areas including hiring and investment. What we have seen in government, education, and other sectors is that hiring based on characteristics other than meritocracy brings failure. The best example of this is the Biden cabinet. Biden brags about his woke hires. The American public suffers because of those woke hires6. Incompetence brings failure. The bank was known to hire on the same basis Biden hires.
The investment policies of the bank were ESG based. These are the same policies that the Biden Department of Labor has said should be used by private pension trustees. The investment is made based on woke ideology and not performance. Investing on this basis has nothing to do with return on investment and safety, but everything to do with the practice of woke policies. The result is that the companies under perform, and the investor is hurt. As in the case of Silicon Bank, disastrously.
The Biden regime took a good and getting better economy and turned it into a weak and getting weaker economy with high and going higher inflation. As a result of the inflation the Federal Reserve has been raising rates and will continue to raise rates. The result of higher rates is a decreased value in treasury bonds and other bonds. As the value of the bond portfolio declined, the capital accounts of the bank would have declined, which would place the bank in a position to fail, thus the closure and FDIC takeover.
In the real world, performance is essential. Banks, companies, and governments can not survive when make believe criteria are used in such crucial areas as hiring, investing, and business performance. What happened to Silicon Bank will happen to the United States Government unless a correction is made soon.