Former San Francisco prosecuting attorney Kimberly Guilfoyle told Newsmax that Silicon Valley Bank, which collapsed last week before garnering government assistance, relied on "woke" initiatives for its core business strategies.
The SVB board members were "obviously more interested in politically weaponizing their bank to their own personal viewpoints and ideology," Guilfoyle told Newsmax Thursday afternoon on "John Bachman Now."
Guilfoyle continued: "And it just goes to show you ... just like [former] President [Donald] Trump said, 'Go woke, go broke.'"
As the national finance chair of Make America Great Again 2024, Guilfoyle said SVB's board of directors had a fiduciary responsibility to their investors and customers.
Yet they seemingly were more concerned about investing big money into elaborate company commercials that focused on diversity, equity, and inclusion, or reportedly floating $73 million to the Black Lives Matter movement.
The other projects had the appearance of being "way too close for comfort," said Guilfoyle, adding the revelations from earlier this week regarding SVB are "disturbing" and "should be investigated."
Guilfoyle then painted this picture for Newsmax viewers: "Can you imagine if you had your life savings" in this bank? The American people rely on banks "for their retirement and kids' college funds," she added.
"Do your research," Guilfoyle said, "and invest your money into places that support your beliefs and that you can trust."
These other banks shouldn't be "taking your money to fund their personal agenda," added Guilfoyle.
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