Silicon Valley Bank donated over $73 MILLION to Black Lives Matter

Woke Silicon Valley Bank donated more than $73 million to Black Lives Matter-related social justice groups in the years leading up to its collapse, while the failed Signature Bank donated $850,000, it has been revealed.

TO database by the conservative Claremont Institute shows that SVB donated around $73,450,000 to the movement and other causes related to social justice while working to increase its environmental, social and governance rating.

New York-based Signature Bank, meanwhile, gave away a total of $850,000 over several years before collapsing on Sunday.

The funds were then used to pay for more Black Lives Matter rallies and to contribute to the organization’s political action committee focused on electing progressive leaders, the Claremont Institute reports.

The revelation comes as banks have been derided for being too awake and not focusing enough on the red flags building up in their companies.

New York-based Signature Bank has donated a total of $850,000 to BLM over the years

The funds were then used to pay for more Black Lives Matter rallies.

Both banks had touted their efforts to improve diversity among their staff and address social issues.

In the summer of 2020, Silicon Valley Bank pledged to increase its commitment to “diversity, equity and inclusion.”

And in a report at the time, CEO Greg Becker said SVB had an employee matching program for donations that focused on “pandemic response, social justice, sustainability, and support for women, emerging Black and Latino talent, and other underrepresented groups’.

The company’s 2021 proxy statement to investors He also noted: ‘Calls to end systemic racism and social inequalities following the death of George Floyd in May 2020 had a profound global impact.

‘We responded by expanding opportunities for dialogue, including hosting more than 40 small group discussion circles in which more than two-thirds of our employees participated in discussions on issues of racial equity.

“In addition, we provide opportunities for action by mobilizing our employees and customers to join in community service through Tech Gives Back, a week of volunteer events focused in part on racial equity, social justice and access to innovation economy”.

At the same time, Signature Bank executives noted in their Social Impact Report 2021 that some 2,200 employees donated to a variety of organizations and 431 individual grants totaling $1.86 million went to nonprofit organizations.

The report says that “corporate giving is an essential component of Signature Bank’s corporate citizenship, and the Bank’s commitment to supporting universal social causes will only grow along with the bank’s size, strength and position within the corporate community, the national economy and global society”.

‘Each year, Signature awards unlimited grants to numerous nonprofit organizations and funds specific activities and initiatives for many others.

‘With our increased focus on social impact, including practices related to human capital, diversity, equity and inclusion, along with strategies to support and cultivate community engagement, and our approach to sustainability efforts as individuals and as an institution, the Bank continues to strengthen its governance in these areas.’

Here a Black Lives Matter protester is seen holding a sign in front of a group calling for the parole of Kim Potter in February 2022.

The Black Lives Matter movement expanded after the death of George Floyd in 2020

Three friends Reneisha Davis, 25 of Los Angeles; Camaree Barr, 26, of Baltimore; and Samia Jones, 27, of New Jersey; they raised their fists during a moment of silence

But in an opinion piece for news weekClaremont Institute executives wrote that the money is being used by Black Lives Matter ‘to support future operations, purchase luxury real estate, engage in nepotism, disburse grants to dozens of BLM chapters and revolutionary organizations, and operate a PAC to ‘elect progressive community leaders, activists and working class candidates fighting for black liberation.’

Local BLM chapters, he said, are also “spending millions on activism and initiatives to defund police departments” and “BLM At Schools is indoctrinating kids across the country into critical race theory, teaching them to hate themselves.” themselves, their peers and their country”.

“Meanwhile, banks are issuing billions of dollars in subprime loans “to help end systemic racism” and corporations are funding left-wing bail funds that release rioters and violent criminals on our streets and collaborate to create radicalized and anti-meritocratic hiring schemes”.

The Claremont Institute concludes: “This redistribution of corporate wealth, wealth that belongs by right to shareholders, including pensioners and retirees, and that should have been paid out as dividends or earmarked for share buybacks, is historic and can be seen as a form of reparation”. made to self-declared enemies of the American nation and way of life.

“And that wealth transfer is inconceivable without BLM.”

DailyMail.com has reached out to Silicon Valley Bank, Signature Bank and Black Lives Matter for comment.