The collapse of Silicon Valley Bank is attributed to a systemic failure in risk management, with the bank's hiring of a social justice warrior as head of financial risk management being a key factor. The ESG culture has replaced rational models with feelings, leading to a lack of accountability. Meanwhile, the Biden administration is planning a bailout for depositors, but not the shareholders. In other news, the DOJ is going after a young man for free speech, and Hillary Clinton is advocating for a war in Ukraine, despite her own track record of foreign policy failures.
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