Are they going to let this go? No accountability?
this - and 90% of deposits were beyond FDIC coverage - and chief honcho of SVB sat on SF Fed board. are they all incompetent as to bank workings and how does she have a job?
Crime Scene.
It’s like Twitter. Somehow government just failed to follow regulations and oversight for this bank. Somehow the bank gave huge bonuses to employees before collapse. Somehow the bank gave “inside” loans of nearly 7X normal to employees in the quarter before collapse.
They didn’t want Elon to purchase, because he would have made public the story.
Don’t worry though. The same event of a financial service holding your money and using it to buy into bad investments while paying off political liked minded people can’t happen elsewhere or to your 401k retirement…………. Oh wait, Biden vetoed that protection.
No coincidence, will these miscreants repay the “loans”? Hard to believe felonies weren’t committed as they had to know the house of cards of about to come down. No one will do time let alone be charged.
Check out this spin from CBS...
Whoever wrote that makes Linda Blair look like a piker.
Did the officers, directors and principal shareholders give 10 percent to the “Big Guy”?
An example of “effective altruism,” a/k/a known as embezzlement? This was one of Sam Bankman Fried’s lines.
What are the odds that these were unsecured loans. They won’t have to pay a dime back.
sounds a lot like the same game plan used in the S&L crisis of the 80’s when owners & insiders looted much of the nations thrift industry
neal bush/silverado was a good example of the easy diggins:
all in the family? Yeb running his own S&L skam:
http://www.rationalrevolution.net/war/bush_family_and_the_s.htm
I knew someone who worked for a bank 20 years ago (VP of Data Security). He told me it was illegal for the bank to make loans to people who worked there. Was he wrong, or is that rule/law now obsolete?
How is this not Robbing The Bank ?
This is why Speaker McCarthy should be pounding on the table Demanding this bailout be Halted and Scrapped immediately so they can all be Prosecuted instead.
Hey, if Bankman-Fried can cash out, why not SVB? Loot while the looting is good.
Now just a cotton pickin’ minit here. Let’s be fair. They had to loot the bank to bribe the politicians and officials to look the other way while they they squandered bank assets on woke BS and also looted the bank.