Watch Pence blames Biden for Silicon Valley Bank collapse after fierce blowback against Trump administration – Latest News
Former Vice President Mike Pence has joined the choir of conservative voices trying to pin the Silicon Valley Bank collapse on Democrats while Democrats try to do the same to them.
In an editorial for The Daily Mail, Mr Pence takes aim at Joe Biden and the Democrats, claiming that “just like 2008,” the party has “increased spending by over $10 trillion” that “fueled record inflation, inevitably requiring the FED to raise interest rates.”
He laid some of the blame on the bank, which collapsed on Friday, and laced his criticisms with conservative media buzzwords.
“But SVB is not solely responsible for misallocating its resources on left-wing priorities; the Biden administration actively encouraged them to do so,” he wrote.
Mr Pence accused the bank of committing to “woke” projects like combatting the climate crisis, and sneered at its stated commitment to “live its values,” by pursuing “left-wing environmental, social and governance goals.”
Environmental, social, and governance goals for businesses are called ESG. That acronym has become the latest for conservatives to rail against, replaying the CRT outrage but this time for the corporate world.
The word Mr Pence leaves out of his criticisms is “regulations.” Democrats have been slamming both the Republican Party and Donald Trump, removed in 2018 with the repeal of the Dodd-Frank Act.
Mr Pence does mention “regulators,” but only as a way to criticise Mr Biden’s desire to “push an environmental agenda” through banking policies.