Commentary
In the wake of the Silicon Valley Bank collapse, many are questioning whether the bank was distracted by woke policies over its core mission of protecting depositors’ money. A lot of evidence has already come to light that it did. We must also examine the role California Governor Gavin Newsom played in the bank’s demise.
Newsom championed the California rules that corporate boards must maintain a specified number of minorities, women, and LGBT, regardless of their qualifications. The first such law was passed in 2018, mandating that boards of six persons or more have at least three women. Despite the law’s purported goal of “diversity,” it permitted a board to consistent entirely of women….