‘Completely Ignorant’: Kara Swisher Shoots Down Top Republican Calling Failed Bank ‘Woke’
MSNBC host Stephanie Ruhle spoke with renowned tech journalist Kara Swisher on Monday night and asked Swisher to explain why some on the right, including House Oversight Chairman Rep. James Comer (R-KY), are blaming the recent failure of Silicon Valley Bank on “woke” policies.
After playing a clip of Comer being interviewed by Fox’s Maria Bartiromo, Ruhl asked, “The only people who woke up were VC funds who like small government, who decided they needed government help. That was how House Oversight Chairman James Comer talked about ‘woke Banks.’”
“And then there was this editorial in the Wall Street Journal today. It was written by columnist Andy Kessler, who we invited to join us on the show tonight. He declined and explains what happened to Silicon Valley Bank. A lot of it made sense until you get to the end where he writes, quote, ‘In its proxy statement, SBV notes that besides 91% of their board being independent and 45% women, they also have one black, one LGBTQ+ and two veterans. I’m not saying 12 white men would have avoided this mess, but the company may have been distracted by diversity demands,” Ruhl continued, adding:
With us for more, my dear friend Kara Swisher, editor at large of New York Magazine and host of the podcast Pivot and On with Kara Swisher and Justin Wolfers, professor of economics and public policy at the University of Michigan. Kara, refresh my memory. When the actual financial crisis happened, the entire investment banking industry was led by white guys. What was under it was this festering subprime crisis. And there was not a band of LGBTQ transgender mortgage brokers selling upside down mortgages to people across this country. What kind of nonsense argument are they making here?
“It’s nonsense, nonsense argument. When I saw that, I was shocked,” Swisher replied, adding:
And the same thing that Comer was saying, he’s completely ignorant. Silicon Valley Bank. For a long time, it was an inside joke in the valley that it was all men that were running it. A lot of women, women, VCs wanted to get on the advisory panel and they were locked out. They never got on it.
It was, there was nothing woke about this bank. It was very, I would say, libertarian, maybe, if you had to pick something, but not particularly political, this was about bad investments or investments they held on to. They got caught in a squeeze, essentially. And to do this is just a ridiculous, nonsensical right-wing talking point that makes no sense.
“This was just about finances and about what’s happening in the economy and and their exposure in that regard. To do this, I don’t even understand it. It’s just a talking point. Everything is a woke something woke AI, woke banks, woke pancakes next I’m sure, something,” Swisher concluded.
“Yeah, but this one I really don’t understand. You can make tons of these anti-woke arguments. And there’s a lot of people that’ll try to buy into it. But this one Justin, Ron DeSantis is coming off a big fundraising trip to Palm Beach. You know, lives in Palm Beach, really rich Wall Street people who know full well that this is a garbage nonsense argument,” Ruhl replied, concluding:
And trust me, none of them want to take my call today and all weekend when I’m going. You think it’s because they were woke? They’re avoiding my call at all costs because they know how ridiculous this is. So how does this help Republicans? I know they like the ultra-MAGA crowd, but they also like rich donors.
Watch the clip above via MSNBC
