Signature Bank - Voted Red, Now Dead

disciple Clint said:

While Trump is Biden's favorite excuse for all his own failures, Biden created the economy we are now suffering in.

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The economy in which we just added 311,000 jobs? Or the one with GDP growth of 2.9%?

USincognito said:

You seem to have a bad habit of missing the forest for the tree. Mr. Cephas is on the board of directors, but as his bio notes, his day job is with the law firm of Squire Patton Boggs. He is also only one of nine members of the board nor is he it's chairman.
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Let's take a look at the Board of directors - Old White heterosexual Republican men - Seems to me of the nine Board of directors Three are woman and one is a black man -

The Board of Directors are who oversee the Bank _ duh (I don't believe I even have to say this) - they are the ones who - ready - DIRECT the bank, the final overseeing authority, the ones who make the major decisions.

So - no - it is NOT a bunch of Republican old White Men .

Look also at post #3 -

If you are going to accuse the modern boogeyman (straight, white old Republican men) at least get it right on who the board is made of.

It's one way to not look bad. or just a way to get back for another thread that was actually accurate in it's reporting.

It's like referring to the other bank collapse - Silicon Valley Bank and accusing them for destroying a bank because they are all gay liberal Democrats in California.

Just doesn't was the reality test.

hislegacy said:

Let's take a look at the Board of directors - Old White heterosexual Republican men - Seems to me of the nine Board of directors Three are woman and one is a black man -

The Board of Directors are who oversee the Bank _ duh (I don't believe I even have to say this) - they are the ones who - ready - DIRECT the bank, the final overseeing authority, the ones who make the major decisions.

So - no - it is NOT a bunch of Republican old White Men .

Look also at post #3 -

If you are going to accuse the modern boogeyman (straight, white old Republican men) at least get it right on who the board is made of.

It's one way to not look bad. or just a way to get back for another thread that was actually accurate in it's reporting.

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That's a very weird way to admit that Me. Cephas isn't "the Director" of SVB.

USincognito said:

That's a very weird way to admit that Me. Cephas isn't "the Director" of SVB.

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What is his title on the bank website - check it and get back with me.

a - the - one of the - are we yet struggling over three letter words yet again?

iluvatar5150 said:

ahem

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Know what the difference is?

That posters link supports the accusation - yours does not.

iluvatar5150 said:

I do. The difference is that, while they’re both farcical, mine was deliberately so.


lol seriously? No, it doesn’t- that’s why he’s getting shredded over there. He doesn’t support his contention in that thread any more than I did in this one.

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which is why you are getting shredded on this one - feel better now?

iluvatar5150 said:

only by folks who don’t get the joke.

why do I have to explain any of this…

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Why? because you started a thread seemingly based on race - sexuality - ageism - Christophobia and political affiliation.

hislegacy said:

That posters link supports the accusation - yours does not.

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How did that other poster's link support the accusation?

They posted a link about the story, posted a link showing that the organization embraced ESG initiatives (which they obviously took objection to), but provided zilch to support the notion that it was a causal relationship between their ESG initiatives and their bank failing.


Their entire premise was "Bank failed" -> "Bank did this thing I don't like" -> "Conclusion: This thing I don't like must have been what caused this bank to fail"


Unless I missed something crucial there? Did they hire a Gay Mongolian Buddhist Amputee with no finance credentials as an affirmative action hire & time traveling abilities who went back in time 30 years and encouraged them to make single-threaded investment choices, discouraged them from diversifying their lending offerings, and gave them bad advice on their cash reserves policies?

ThatRobGuy said:

Did they hire a Gay Mongolian Buddhist Amputee with no finance credentials as an affirmative action hire & time traveling abilities who went back in time 30 years and encouraged them to make single-threaded investment choices, discouraged them from diversifying their lending offerings, and gave them bad advice on their cash reserves policies?

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Now you’re getting it!

ThatRobGuy said:

...
Their entire premise was "Bank failed" -> "Bank did this thing I don't like" -> "Conclusion: This thing I don't like must have been what caused this bank to fail"
....

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You are referring here to the CFNC&E gold standard of iron clad causal reasoning.

hislegacy said:

Signature is one of the main banks to the cryptocurrency industry, the biggest one next to Silvergate, which announced its impending liquidation last week. It had a market value of $4.4 billion as of Friday after a 40% sell-off this year, according to FactSet.

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This is the only thing that matters. Crypto is a scam and if your bank is tied to it, it will die.

hislegacy said:

What is his title on the bank website - check it and get back with me.

a - the - one of the - are we yet struggling over three letter words yet again?

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Like I said, you have a really bad habit of doing this. You get something wrong and then you double down when others point out your error.
Again, Mr. Cephas does not work at the bank. He works, as I have already explained to you once, at the law firm of Squire Patton Boggs. He serves as ONE director out of NINE directors on the Board. He is not "The Director" as you asserted.

USincognito said:

You seem to have a bad habit of missing the forest for the tree. Mr. Cephas is on the board of directors, but as his bio notes, his day job is with the law firm of Squire Patton Boggs. He is also only one of nine members of the board nor is he it's chairman.
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Since we apparently need to do this, let's go through each of the directors.
Scott Shay is founder of Signature Bank and Chairman of the board. If anyone is "the director" it's the Chairman. Mr. Shay actually works for the bank.
Joseph DePaolo is co-founder and CEO of Signature Bank. He actually works for the bank.
Erick Howell is COO of Signature Bank. He actually works for the bank.

Barney Frank is a former Congressman. He does not work for the bank.
Judith Huntington does not work for the bank.
Jalak Jobanputra does not work for the bank.
Michael Pappagallo does not work for the bank.
Maggie Timoney does not work for the bank.
And once again, Derrick Cephas does not work for the bank.

iluvatar5150 said:

More proof that going Republican doesn't make for a successful business.

Regulators close crypto-focused Signature Bank, citing systemic risk

U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.

www.cnbc.com

Signature Bank Profile: Recipients

Signature Bank organization profile: candidate recipients for the 2024 cycle and top recipients of all types for the 2024 cycle.

www.opensecrets.org

They obviously weren’t all on-board with all the Woke buzzwords and phrases being thrown around: Diversity, Inclusion, Tolerance, equity, social justice, empathy, blah blah blah! No, they let a bunch of old white guys run their company into the ground.

Let's hope corporate America actually WAKES up and focuses on hiring intelligent and capable people rather than just maintaining the status quo of perspective employee's skin tone, or favoring an employee who has sex with those of the opposite gender, or favoring men.

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Um, and Silicon Valley Bank failed as well, dominated by Democrats. So what? Bad management and national policy is bad management and policy.

About 77% of SVB's total 2022 donations were to Democratic candidates and groups, while only 23% were contributions to the GOP.

iluvatar5150 said:

Tell me you didn’t read the thread without telling me you didn’t read the thread.

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So you didn't even read the article posted which substantiates my point. Why bother responding nonsubstantively? I did read the original post, but not every single response on every page.