Mary Daly, the Federal Reserve Bank of San Francisco chief who failed to see major red flags at failed Silicon Valley Bank, was inspired by Marxian economist Gene Wagner, who she said “has mentored me my whole life” Talk about moral hazards: The lesbian activist protege of Biden Treasury Secretary Janet Yellen was more concerned with regulating culture than regulating banks. Also a BLM activist.
Federal Reserve Bank of San Fran Prez Mary Daly turned a blind eye to Silicon Valley Bank. President and chief executive officer of the Federal Reserve Bank of San Francisco since October 1, 2018. She serves on the Federal Reserve’s rate-setting Federal Open Market Committee on a rotating basis.
But this is not the worst of it. Included in the post is a video of Kevin O’Leary AKA Mr. Wonderful. His opinion on what just happened?
“Biden Just Nationalized U.S. Banking System”…
But let us continue with this charade first.
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Here is the Cliff Note edition of the woman who is running the shop at the Federal Reserve in San Francisco. .
Mary Daly’s career trajectory: drops out of High School, works at a donut shop, gets GED, goes to college, becomes enamored with leftist prof teaching Marxian economics, becomes San Fran Federal labor researcher, ingratiates herself with Janet Yellen, who keeps promoting her first openly gay Fed/ prez/CEO. Her background is in the study of economic equality.
Mary Daly, the Federal Reserve Bank of San Francisco chief who failed to see major red flags at failed Silicon Valley Bank, was inspired by Marxian economist Gene Wagner, who she said “has mentored me my whole life”
She tells us everyone can be a Central Banker. Whoopee.
LinkedIn:
The Federal Reserve Bank of San Francisco chief who was supposed to be regulating Silicon Valley Bank, appeared sidetracked by social justice activism: “What Black voices have I lifted up? Equity & inclusion begins with me.” #GeorgeFloyd,
February 2021:
Feb 16 (Reuters) – San Francisco Federal Reserve President Mary Daly on Tuesday pushed back against critics warning low interest rates and government spending could overheat the U.S. economy and spark high inflation.
“I am not thinking that we have unwanted inflation around the corner,” Daly said at a virtual event held by the University of San Francisco. “I don’t think that’s a risk we should think about right now.”
That’s what you see on the surface. I would ask you to take a much deeper look into Mary Daly. This was a coordinated, preplanned scheme for a government takeover of our banking system, to create a nationalized, central bank. On the way to Digital Currency.
Only ONE member of failed SVB’s board had a career in INVESTMENT BANKING.. The Rest were Obama, Clinton MEGA-DONORS who ‘grieved’ when Trump won including one who went to Shinto shrine ‘to pray’… -Daily Mail
Enter CEO of Silicon Valley Bank Greg Becker Comrade in Arms:
What did SVB’s CEO do before the collapse ?
CEO of failed Silicon Valley Bank no longer a director at San Francisco Fed
(Reuters) – The chief executive officer of failed Silicon Valley Bank, Greg Becker, is no longer on the board of directors at the Federal Reserve Bank of San Francisco.
The 12 regional Federal Reserve banks are quasi-private institutions overseen by the Fed in Washington. Their respective boards watch over the banks directly and provide advice on governance as well as local economic intelligence.
Most importantly, these boards also lead the process to select new presidents when there are vacancies, although directors from firms regulated by the Fed are not allowed to participate in that process.
…
The directors of the Fed banks have been in the spotlight in recent years as the central bank has faced criticism that bank directors lacked racial and gender diversity and were too weighted towards the business and banking community. The Fed has been working on expanding who serves in these roles.
Analysis: With record diversity on their boards, Fed bank chiefs see lower chances of policy error
Feb 24, 2023 (Reuters) – A record number of women and minorities hold seats this year on the boards of the Federal Reserve’s 12 regional banks, providing perhaps the most diverse range of input ever as those banks’ presidents – alongside Fed governors in Washington – wrestle with how to slow inflation without tanking the economy.
Fed bank directors generally stay out of the limelight, but many U.S. central bankers view them as a critical resource. Indeed, some argue prospects for a best-case outcome to their policy-tightening campaign are heightened by the advice from such a wide spectrum of voices.
This year, of the 108 spots on the 12 Fed bank boards, 44% are filled by women, and 41% by people of color, a review of the data shows. “I think the probabilities are far higher of achieving that gentle transition, that smoother transition,” San Francisco Fed President Mary Daly told Reuters in an interview. (What possibly could go wrong?)
Daly, her 11 bank president peers and the six current members of the Fed Board face some of the toughest decisions in their central banking careers in the months ahead.
To find it, they’ll be advised by a small army of PhD economists across the Fed system.
Central to getting that information, Fed bank presidents say, are their regular huddles with their boards and panels that until as recently as 2018 had largely been cut from the same cloth: bankers and business leaders, most of them white men.
Source Reuter
And at the White House? While the stock markets were in the throes of a meltdown on Friday with the bank collapse and panic setting in, and everyone was on the edge of their seat? We were reassured that the best were at the helm,
Sky News nails it. Short sweet and to the point.
Biden administration throwing ‘more woke at the fire’
Mr. Wonderful Kevin O’Leary Stuns CNN Panel Telling Them “Biden Just Nationalized U.S. Banking System”…
The decision by Joe Biden to guarantee every deposit in U.S. regional banks is akin to “Joe Biden just nationalized the U.S. banking system.”
O’Leary is correct, and anyone who is holding assets like stocks or bonds in U.S. banks now needs to reconsider the disappeared line between government and the bank assets. If the government can assume, control and backstop every single account balance within the bank, the government can assume and control all activity of the bank. Read more Conservative Tree House
For more on the roll out of digital currency see yesterday’s post:
Other than that all is well in the swamp. By the way, always follow the money.
BUNKERVILLE | God, Guns and Guts Comrades! 