Posted on 03/15/2023 5:52:46 AM PDT by euram
Bankers in Israel were able to successfully transfer $1 billion in funds from Silicon Valley Bank (SVB) right before it collapsed on Friday, according to reports.
The Times of Israel is reporting that the country’s two largest banks, Bank Leumi and Bank Hapoalim, were able to move the money before it was seized by the feds.
The funds were transferred to bank accounts in Israel.
(Excerpt) Read more at slaynews.com ...
Why would Israel have money in that Woke Bank ?
People paying attention to their money would know the asset structure of their bank. They would track it. When the street value of their assets drop below an acceptable reserve rate…you pull your money.
People think that these depositors who put a billion dollars into a bank don’t pay attention to their money. Most do. Except when they don’t know what they are doing.
It’s not a conspiracy. It’s called asset management. The question that should be asked is “Why didn’t everyone else pay attention?”
Insider information?
“The lady doth protest too much, methinks”
Bankers are nothing more than high-roller gangster gamblers who never lose. It’s the little guy that loses his personal savings and has to bail the gangsters out with his hard-earned tax dollars. It’s one helluva racket.
Bigot EURAM knows that many non Israelis withdrew too, but chose to defame to pick. Typical.
He didn’t sell all his assets. He exercised his annual options.
When I worked at a larger bank we got out options packages in March. We also got our bonuses in March—as that was the deadline for the bank to tak them on the previous year’s taxes.
Options would vest over 7 years. In our case, for example, the Executive level was granted options in year 0 that were at a price around $1.35. This was right after the banking crisis in the 1990s.
7 years later, the stock was in the low $30’s based on actions taken by that executive team. In March of year 7, these executives received their bonuses and turned around and cashed in those options; they were worth about $35 in profit. If they didn’t do that, they would lose millions of dollars.
The second point is that the top earners of the bank could only exercise their options during specific periods. And, they had to notify the regulators when they did it.
So, a bank President exercising options and getting paid their bonuses in March is “normal.”
Did the President know his bank was on shaky ground? Absolutely. He would have known that for months.
My point is not to defend this person—they acted like an idiot. My point is to explain how options and bonuses are paid in a banking operation.
Yea some of that money was probably the Masad's operating funds. Of course they got it out.
Venture Capital money. That’s how the rich become “ultra rich.”
Why not look up the Times of Israel.com article and post that, instead of some ad heavy site's editorializing of it?
A better question is “what evidence is there that this dramatic claim is true?”
Explains why a stock option I once held would be distributed in March. My only problem was that I was required excersize that option the preceding Oct. I didn’t...and lost a bundle. The stocks I held at that time (2000) were worth about $50,000. Today, what with sales, mergers etc, that has become a couple of hundred. I keep them for one reason only, to remind myself to
STAY THE HELL OUT OF THE MARKET.
I’ts not a game for everyone.
SVB had branches in a number of countries in Europe, China, and Israel. Israel probably has more tech startups than the USA.
People who can read the data knew months ago that SVB was in big trouble.
With Twitter, you don’t even need friends to get notified. It’s my understanding that the rumor spread like wildfire on social media, which resulted in people picking up their cell phones, logging into an app, and transferring money out of the bank. That’s why the whole thing flipped on a dime. Expect the near future to include strange internet, cell, and electrical blackouts.
I understand. I left my job in March one year. I timed it so I got my bonus and my previous years options went through their vesting. So, I cashed out thinking I was so smart.
Two weeks later the bank was bought. The premium was about 25%. But ALL options were immediately vested, even the ones just issued. It pains me to think about what those two weeks cost me. Ha ha.
Or insider information.
Possibly from the CEO, who also sold his shares, and gave bonuses to staff, shortly before the bank's collapse.
...and that's the 9/11 Truth! /sarc
Don’t need a weatherman to know that there’s a wind blowing. They put two and two together and skedaddled. BFD.
Good for Israel...
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