Both Republicans and Democrats have pounced on the collapse of Silicon Valley Bank to push their own political agendas.
While Democrats have focused on deregulation during the Trump administration -- specifically the dismantling of Dodd-Frank -- Republicans have seized on a different, more esoteric reason for Silicon Valley Bank's demise.
Wokeism.
DON'T MISS: One Political Party is Using a Trigger Word to Explain SVB's Collapse
"This bank, they're so concerned with DEI and politics and all kinds of stuff, I think that really diverted them from focusing on their core mission," Florida Governor Ron DeSantis (R) said this week.
But the Left side of the political spectrum has been pushing back against this notion all week, and famed financial advisor Suze Orman went on CNN to respond to a Wall Street Journal opinion piece that said SVB's "commitment to diversity" -- the company's 12-person board has one black member, one LGBT member, and two veterans -- is what caused it to fail.
"What governed SVB was the desire for profits. To make money. To rather than look at their loans and deposits, and maybe make a quarter of a percent on it, they went and they wanted to make more money on it. It was the desire for earnings, because their stock was on the stock exchange," Orman told CNN.
"So when people start looking at things like that to blame what happened. That just shows you their serious lack of economics, of money, and reality and they are simply going for your vote."
Part of the reason it's hard to take the "blame woke" movement seriously is because they have a tough time defining what exactly being woke means.
