Comer: Silicon Valley Bank Is ‘One of the Most Woke Banks in Their Quest For ESG Policies’

COMER: This is something that I worry could be a trend. Usually when one bank goes down, more banks could go down. What we’ve seen early on from the articles I've read in the Wall Street Journal and other financial publications and they invest add lot of cash, a lot of cash I would assume they had from things like ppp loan, government policy, and they invested it in bonds and then because the Democrats spent too much money in other stimulus, they — the bonds go down and interest rates go up. The fed had to raise interest rates rates to combat the Democrat. inflation. Then we see now coming out they were one of the most woke banks in their quest for the esg-type policy and investing. This could be a trend and there are consequence for bad Democrat policy and I think we need to keep an eye on all the banking sector right now.