Bernie Marcus, the founder of Home Depot, urged Americans to “wake up” on Friday’s episode of “You World” on FNC because they were “more concerned about global warming than they are about shareholder return” following the failure of Silicon Valley Bank.
“I can’t wait for Biden to get on the soapbox again and tell about how fantastic the economy is, how it’s growing forward and getting stronger by the day,” added Marcus. “And this proves that he is not telling the truth about anything he says. And maybe the American people will finally wake up and realize that these are difficult times and that perhaps a recession has already begun. Nobody knows. However, it doesn’t seem good. I feel awful for each and every one of these people that lost everything in this woke bank. Knowing that the bank officials had sold off their stock before this occurred made the news much more upsetting. I find it depressing. Whether the Justice Department will pursue them is unknown. They’re a progressive business, so I assume not. And they’ll probably escape punishment.”
He continued, “My opinion is that the administration and the system have forced many of these institutions to prioritize protecting the environment over maximizing shareholder returns. Furthermore, these institutions are poorly run since everyone is preoccupied with diversity and other woke concerns rather than the one thing they should be focusing on: shareholder profits. They are more concerned with social policies than with safeguarding the shareholders and their employees. And I believe the bank is probably being operated poorly. They have been there for a very long time. The fact that so many people lost money and won’t recover it is pitiful.”
“The Fed keeps hiking rates, and inflation keeps moving in the wrong direction,” Marcus said in conclusion. “It isn’t staying put like it ought to. People are in distress. People struggle to make ends meet. They are unable to put gas in their tanks. And if you believe that to be a positive indication, I disagree. And our administration is clueless about this. They simply keep harping on how wonderful things are and how wonderful the times are. This is bad. You can’t accomplish two things at once, and someone with a rational head has to enter the scene and realize this. First, you must stop hiking rates. The current level of inflation cannot be sustained. People cannot be taxed more than they already are. His suggestion to tax the wealthy and the middle class is among the most ridiculous things I’ve ever heard. You don’t do stuff like that during a recession like this.”
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