SVB collapse: Republicans claim 'woke' policies led to tech bank's downfall

A growing chorus of Republicans is placing fault for Silicon Valley Bank's collapse on "woke" investments and policies at the company.

The bank's downfall, which was in large part precipitated by the company's heavy investment in Treasury bonds that lost value as a result of the Federal Reserve's rate hikes, prompted the Biden administration to step in and backstop its deposits, which some decried as a de facto "bailout," but grumblings over the company's social justice agenda were particularly pronounced on the Right.