to make a decision that leads to the failure of an institution, with penalties of unlimited fines and/or up to seven years in prison.
should not allow banks to run big bond investment portfolios without requiring them to record profits and losses daily.records 40 mentions of the environmental, social, and governance—or ESG—movement currently in vogue at many corporations and financial institutions. In a “key change,” the board expanded the Governance and Corporate Responsibility Committee’s oversight role in ESG.
It’s clear that the bank should not have been holding risky bonds in its liquidity portfolio, and a bank examiner with initiative would have questioned this strategy. The bank was investing client deposits in liquid bonds but had chosen higher-risk bonds whose value fluctuated significantly when interest rates rose and fell. When customers withdrew deposits, as they did when they needed cash for their startups, the bank needed to sell bonds, crystallizing losses.
- Trump rolls back regulation. - Bank tries to optimize profit using the lower regulation demands. - Republicans: They were to WOKE
Yep, going overboard on that climate garbage will kill you every time.
Why am I not surprised. Those at the top need to be held accountable. And the top person needs to be charged because he knew what was coming. And everyone that received a bonus has no business having one.
Go woke and go broke!!!