Posted on 03/13/2023 6:43:00 AM PDT by Red Badger
Of course they did.
It’s time to seize their ass-ets...in where ever they stashed them. (Hunter Biden “paintings” don’t count as assets)
Did you see Pelosi or Feinstein listed there? These woke billionaires and millionaires get out completely whole while working class American tax payers foot the bill. I’m sure the good people of East Palestine get a warm fuzzy feeling knowing their tax dollars will bail out our Silicon Valley aristocracy.
The CFO is the more troubling.
Some criminals never ever have to suffer for their criminal acts in America.
People don’t sell stocks they expect to go higher 🧐
The writers put that sentence in there to keep from being sued.......................
Note: There is no suggestion of unusualness in these trades, nor that they violated any laws. Nor is there a suggestion of any alleged insider trading.”Please, Senator Schumer, don’t hurt me! I’ve got a family to feed.”
[Numerous corporate executives sold Silicon Valley Bank, SIVB, stock before the collapse]
It was a coincidence!!!
C’mon man!!!
It’s a CYA for the writer, probably from his attorney..................
Wonder how many pols and bureaucrats did...
You didn’t see that concern by “reporters” before. Do you think a “whale” writer has an attorney? I doubt it, but he knows that you can easily become a federal political prisoner today.
Inside trading ? We will never know since government only goes after MAGA supporters.
Gregory Becker, CEO, sold 11% on Feb 27, 2023.
Michael Zucker, Counsel, 19% on Feb 5.
Daniel Beck, CFO, 32% on Feb 27.
Michelle Draper, CMO, 25% on Feb 1.
Is the % the % of the stock they owned or % of the total stock?
I think it’s the % they owned. I could be wrong....................
They knew it was in trouble.
They cashed out, then waited.
Then went “oopsies, we need to raise 2 billion to cover..” and stirred up panic on purpose.
Of course they did. They knew they were overextended. There is no way they could NOT have known..................
Once someone looked at their portfolio, they would have run the numbers. They would see that with the increase in Mortgage rates, the securities they held would plummet in price. That means their assets on hand, when marked to the market, would be worth about half of their original value.
The “cash flow” would not have changed through maturity—but the current value could not support the liabilities on the books.
Smart money managers would have seen this coming from a mile away. The average investor don’t look at this stuff. But money folks do. You can bet that there were a lot of meetings in a lot of companies over the weekend where CFOs were getting their asses grilled. And...these people don’t like weekend meetings where they are losing money.
As an outsider looking in...it’s kind of amusing. I was always a little surprised when I discovered there were people at the higher levels of my previous employers who were, literally, stupid about some things they did every day. And when their stupidity was revealed...the surprised look on their bosses face were even more amusing.
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