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Silicon Valley Bank employees received bonuses hours before government takeover
CNBC ^ | 3/11/2023 | Hugh Son

Posted on 03/11/2023 2:44:39 PM PST by marcusmaximus

Silicon Valley Bank employees received their annual bonuses Friday just hours before regulators seized the failing bank, according to people with knowledge of the payments.

The Santa Clara, California-based bank has historically paid employee bonuses on the second Friday of March, said the people, who declined to be identified speaking about the awards. The payments were for work done in 2022 and had been in process days before the bank’s collapse, the sources said.

-snip-

A spokesman for the FDIC declined to comment on the bonuses.

(Excerpt) Read more at cnbc.com ...


TOPICS: News/Current Events
KEYWORDS: chat; homosexualagenda; siliconvalleybank; svb
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To: TwelveOfTwenty

At this point I don’t believe the debt will ever be repaid.

They know it


21 posted on 03/11/2023 5:43:33 PM PST by aMorePerfectUnion (Fraud vitiates everything. )
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To: marcusmaximus

Bet you are correct!


22 posted on 03/11/2023 5:43:59 PM PST by aMorePerfectUnion (Fraud vitiates everything. )
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To: glorgau

The bank bought treasury bills at 1% and the depositors left to get the treasury bills that are now 5%
The bank would sell the 1% bills to cover the depositors and lose money each time.

Too many depositors left and the bank was soon under water. This was all caused by the Biden administration and congress spending $6.3 trillion in less then 2 years causing massive inflation, huge price hikes across the board for everyone.


23 posted on 03/11/2023 7:57:47 PM PST by minnesota_bound (Need more money to buy everything now)
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To: minnesota_bound

I imagine Oprah is upset as she is reported to have had $590 million in that bank.

Not her first time as she owns lots of stock in Weight Watchers. 2016 and 2019 and 2023 etc. Many stories as the stock flucterates like a persons weight. Oprah however remains fat. With $590 million loss she may need to change to “Lean Cuisine” : )

5 years ago the stock was at $101 and now is at $4.29 <-— wow!

The media mogul and 10% owner of Weight Watchers has seen $117 million in wealth vanish as shares of the company have crashed 66% from their high notched November 2015 on enthusiasm over her involvement with the company.
https://www.usatoday.com/story/money/markets/2016/09/13/117-million-gone-oprah-loses-more-than-weight/90305990/

Yep, a fat person who never loses weight owns stock in Weight Watchers.....


24 posted on 03/11/2023 8:12:00 PM PST by minnesota_bound (Need more money to buy everything now)
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To: aMorePerfectUnion
At this point I don’t believe the debt will ever be repaid. They know it

Our government borrows money we can't pay back, gives that money to people who came here illegally, and uses our troops as fodder into wars they have no intention of winning.

And we keep reelecting them.

25 posted on 03/12/2023 5:12:10 AM PDT by TwelveOfTwenty (Will whoever keeps asking if this country can get any more insane please stop?)
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To: marcusmaximus

Obviously the bonuses weren’t based on performance unless maybe you worked the front Desk or Janitorial, maybe not even then. I guess just occasionally showing up was enough for the Desk Jockey to collect.


26 posted on 03/12/2023 6:12:55 AM PDT by DAC21
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To: TwelveOfTwenty

Rightly said!


27 posted on 03/12/2023 8:03:40 AM PDT by aMorePerfectUnion (Fraud vitiates everything. )
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To: marcusmaximus

It looks like the date of the collapse was well planned to give top people at SVB plenty of time to shelter some of their own investment in the bank, so why not the employees. The houses were probably considered hush money.


28 posted on 03/12/2023 8:07:26 AM PDT by Eva
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