Her name is Jay Ersapah. The 41-year-old was responsible for European risk management at Silicon Valley Bank, which has just slipped into bankruptcy after losing billions and is threatening to sweep the entire US financial market down with it. Instead of doing her job, the lady described herself as a “queer person of color” and engaged in “diversity projects.” The entire English-speaking press is now full of malice: “Go woke, go broke!” – whoever joins the woke ideology goes broke!
Instead of looking after the finances of the bank and thus the customers, Jay Ersapah was busy pursuing left-wing projects. The case is reminiscent of that of the bankruptcy of the deranged bosses of the crypto exchange FTX. Sam Bankman Fried and his playmate Caroline Ellison are also considered left-wing eccentrics. They are suspected of having embezzled billions – including for donations to the left-wing US Democrats or Ukraine. Both have since been charged with various offences. A fate that the risk manager at SVB (Silicon Valley Bank) is likely to face.
Ersapah worked for SVB as CRO (Chief Risk Officer) in Europe, Africa and the Middle East. She identified herself as a “queer person of color from a working class background”. (See also: New York Post). Her “work” included running a variety of LGBTQ initiatives, including a month-long Pride campaign. There were “safe space” campaigns for employees, where they could talk about their homosexuality. In a corporate video released just nine months ago, she said she was proud to work for SVB and serve “underrepresented entrepreneurs”. As an “ally” of the gay organization “Stonewall”, she wrote articles about “Lesbian Visibility Day” and “Trans Awareness Week”. What all this has to do with ordinary banking transactions can no longer be answered retrospectively – it is to be hoped that appropriate questions will be asked by ordinary courts.
The British woman with Indian roots has a bachelor’s degree in economics from the University of Warwick. She acquired her “competence” at Citi, Barclays and Deloitte. Internationally, no one was responsible for risk management for many months, since Laura Izurieta left the company in April 2022. In January 2023, the board again relied on a girl, Kim Olson. She has a bachelor’s degree in political science (!) and a master’s degree in administration. It seems very unclear which of these training courses qualifies for the banking sector.
The SVB bankruptcy with a minus of 1.8 billion US dollars is the largest since the financial crisis of 2008. It plunges the USA into uncertain times – and with it possibly the entire western world. The actual impact will not be seen until Monday March 13th. The bank should actually have assets of 213 billion US dollars, more than 8,200 employees are now trembling for their jobs worldwide.
The financial world is in extreme anxiety ahead of Monday’s open for trading.
