Posted on 03/20/2023 4:23:34 PM PDT by ChicagoConservative27
wrongo
the bank’s bond portfolio had huge unrealized losses that,
eventually, could not be covered
Working alone makes it real easy to ignore other peoples problems, or not even be aware of them.
And I don’t have to hear all their woke crap. I had one co-worker that used to spew liberal gobbledygook half the time in the office.
I wonder if they studied it in the FedGov.
I suspect not.
Biden is the President. He gets the blame not unknown whoever’s.
Point being, replacing him won’t solve the problem.
A very odd thing to say.
Did it result in less due diligence? Sloppy work?
Not saying that WFH is always good, in many ways it is not, but I am suspicious on all the “WOW! Commuting is SO GREAT!” stuff in the media.
I’ve worked for banks for years and years and currently work for a bank.
No, its not about remote work. They had nobody in charge of Risk Management for almost a year and simply DID NOT HEDGE against interest rate risk even at a time of rising interest rates. This was just basic incompetence.
There no other way to put it. Even a kid straight out of college should’ve known to hedge.
Somehow they didn’t fail their CCAR stress test which is absolutely impossible. So some regulators were clearly asleep at the wheel too.
They said this in a Zoom meeting, right?
Proper
Prior
Planning
Prevents
Piss
Poor
Performance
“This was just basic incompetence.”
And it was reported that of all the board members only one had a clue about finance and banking. (I expect they had the proper mix of homosexuals and POC, though.)
“But this is what happens when the ladies decide that celebrating birthdays and having baby showers at work are more important than ACTUAL WORK.”
Michael Scott and the party committee at Dunder-Mifflin Paper Company disagree.
Was that study done by people working remotely?
Agreed. I’ve made a similar point many times. The dems are a cult with an ideology.
However I also think we should personalize these things. Biden signed the EOs on his first day of office. He shoulders the blame.
[I’m thinking that corporate real estate is in trouble because workers at many companies all across the country are happily working from home.]
“Blame it on remote work, whatever. The way I see it there is mainly one person to blame - Biden.”
Oh, come on... If we’ve learned anything by now it’s that everything is Trump’s fault!
Excellent analysis, and the only thing that needed to be said.
Well, they may be right. Perhaps all that ‘remote’ time gave the employees time to RATIONALIZE giving money to people who could never pay it back.
But this is what happens when the ladies decide that celebrating birthdays and having baby showers at work are more important than ACTUAL WORK.
Or time wasted selling stuff for their kids.
Could it have been that SVB board of directors only had one member who had any experience in banking, while the rest were Obama and Clinton hacks.
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