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   From: jew-losers@splcenter.org   
      
   On 30 Sep 2021, "13% = 6x the crimes!"  posted   
   some news:sj58bu$tah$37@news.dns-netz.com:   
      
   > Phil Omdahl wrote   
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   > Trump used liberals for asswipe   
      
   In the hours after some of Silicon Valley Bank’s biggest customers started   
   pulling out their money, a WhatsApp group of startup founders who are   
   immigrants of color ballooned to more than 1,000 members.   
      
   Questions flowed as the bank’s financial status worsened. Some desperately   
   sought advice: Could they open an account at a larger bank without a   
   Social Security Number? Others questioned whether they had to physically   
   be at a bank to open an account, because they're visiting parents   
   overseas.   
      
   One clear theme emerged: a deep concern about the broader impact on   
   startups led by people of color.   
      
   While Wall Street struggles to contain the banking crisis after the swift   
   demise of SVB—the nation's 16th largest bank and the biggest to fail since   
   the 2008 financial meltdown—industry experts predict it could become even   
   harder for people of color to secure funding or a financial home   
   supporting their startups.   
      
   SVB had opened its doors to such entrepreneurs, offering opportunities to   
   form crucial relationships in the technology and financial communities   
   that had been out of reach within larger financial institutions. But   
   smaller players have fewer means of surviving a collapse, reflecting the   
   perilous journey minority entrepreneurs face while attempting to navigate   
   industries historically rife with racism.   
      
   “All these folks that have very special circumstances based on their   
   identity, it’s not something that they can just change about themselves   
   and that makes them unbankable by the top four (large banks),” said Asya   
   Bradley, a board member of numerous startups who has watched the WhatsApp   
   group grapple with SVB's demise.   
      
   Bradley said some investors have implored startups to switch to larger   
   financial institutions to stymie future financial risks, but that's not an   
   easy transition.   
      
   “The reason why we’re going to regional and community banks is because   
   these (large) banks don’t want our business,” Bradley said.   
      
   Worsening Racial Disparities   
   Banking expert Aaron Klein, a senior fellow in Economic Studies at the   
   Brookings Institution, said SVB’s collapse could exacerbate racial   
   disparities.   
      
   “That’s going to be more challenging for people who don’t fit the   
   traditional credit box, including minorities,” Klein said. "A financial   
   system that prefers the existing holders of wealth will perpetuate the   
   legacy of past discrimination.”   
      
   Tiffany Dufu was gutted when she couldn’t access her SVB account and, in   
   turn, could not pay her employees.   
      
   Dufu raised $5 million as CEO of The Cru, a New York-based career coaching   
   platform and community for women. It was a rare feat for businesses   
   founded by Black women, which get less than 1% of the billions of dollars   
   in venture capital funding doled out yearly to startups. She banked with   
   SVB because it was known for its close ties to the tech community and   
   investors.   
      
   “In order to have raised that money, I pitched nearly 200 investors over   
   the past few years,” said Dufu, who has since regained access to her funds   
   and moved to Bank of America. “It’s very hard to put yourself out there,   
   and time after time—you get told this isn’t a good fit. So, the money in   
   the bank account was very precious.”   
      
   A February Crunchbase News analysis determined funding for Black-founded   
   startups slowed by more than 50% last year after they received a record   
   $5.1 billion in venture capital in 2021. Overall venture funding dropped   
   from about $337 billion to roughly $214 billion, while Black founders were   
   hit disproportionately hard, dropping to just $2.3 billion, or 1.1% of the   
   total.   
      
   Entrepreneur Amy Hilliard, a professor at the University of Chicago Booth   
   School of Business, knows how difficult it is to secure financing. It took   
   three years to secure a loan for her cake manufacturing company, and she   
   had to sell her home to get it started.   
      
   Banking is based on relationships, and when a bank like SVB goes under,   
   “those relationships go away, too,” said Hilliard, who is African   
   American.   
      
   What Caused SVB To Collapse   
   Some conservative critics asserted SVB's commitment to diversity, equity   
      
   [continued in next message]   
      
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