We know why SVB failed, and it has nothing to do with interest in diversity. (via MaddowBlog)
Why does it matter that Republicans and their media allies are once again making up a ridiculous explanation for important real-world events? There are a couple of angles to this to keep in mind.
The first is that the GOP is getting lazy in ways that should alienate much of the American mainstream. Downie’snoted that Republicans have begun throwing around hysterical rhetoric about “wokeness” in response to everything from school shootings to police violence to the Pentagon budget, all while the party struggles to even define what they think the word means.
There was a time in which “judicial activism” came to mean any court ruling conservatives didn’t like, and “socialism” referred to any government program conservatives didn’t like. Now “woke” has come to mean practically anything the right finds bothersome in any way. It’s as incoherent as it is unpersuasive.
But even more important is the broader threat: Republicans might be called upon to engage in real policymaking related to the finance industry — quite possibly sometime very soon — and in recent days, they’ve proven themselves far too unserious for the task. Banking regulations and safeguards are incredibly complex, and they require careful study and expert analysis. The more GOP voices ignore the substance of the issue and repeat the word “woke” as if they have some kind of nervous tic, the more obvious it becomes that the party can’t be trusted to approach this issue like responsible adults.
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