Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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
Navigation: use the links below to view more comments.
first 1-2021-28 next last

1 posted on 03/11/2023 2:44:39 PM PST by marcusmaximus
[ Post Reply | Private Reply | View Replies]

To: marcusmaximus

Cha-ching!


2 posted on 03/11/2023 2:47:56 PM PST by glorgau
[ Post Reply | Private Reply | To 1 | View Replies]

To: glorgau

3 posted on 03/11/2023 2:55:13 PM PST by marcusmaximus
[ Post Reply | Private Reply | To 2 | View Replies]

To: marcusmaximus

I feel bad for those employees—think of all the trans surgeries that will have to be delayed....

;-)


4 posted on 03/11/2023 2:57:06 PM PST by cgbg (Claiming that laws and regs that limit “hate speech” stop freedom of speech is “hate speech”.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: marcusmaximus

The story does not mention the millions in stock that the execs dumped before the seizure.

Surprise indeed!


5 posted on 03/11/2023 2:57:10 PM PST by DeFault User
[ Post Reply | Private Reply | To 1 | View Replies]

To: marcusmaximus
This headline seems misleading.

The bonuses were probably paid as part of a regular Friday payroll run for the company.

6 posted on 03/11/2023 2:57:31 PM PST by Alberta's Child
[ Post Reply | Private Reply | To 1 | View Replies]

To: DeFault User

7 posted on 03/11/2023 2:58:13 PM PST by marcusmaximus
[ Post Reply | Private Reply | To 5 | View Replies]

To: marcusmaximus

Great job, guys! Keep up the good work (in your new job).


8 posted on 03/11/2023 3:01:28 PM PST by plain talk
[ Post Reply | Private Reply | To 1 | View Replies]

To: marcusmaximus

“Silicon Valley Bank employees received bonuses hours before government takeover”

SVB is sounding more and more like the FTX scam, where they claim super-wokeness and then cash-out just before the inevitable crash.


9 posted on 03/11/2023 3:02:20 PM PST by BobL
[ Post Reply | Private Reply | To 1 | View Replies]

To: Alberta's Child
The bonuses were probably paid as part of a regular Friday payroll run for the company.


10 posted on 03/11/2023 3:03:21 PM PST by marcusmaximus
[ Post Reply | Private Reply | To 6 | View Replies]

To: marcusmaximus

There is much more to this story. A bank that used Chinese cryptocurrency as its founding capital then paves the way for the purchase of Silicon Valley tech companies, stock offerings and sales is an ideal platform for Chinese intelligence.


11 posted on 03/11/2023 3:37:32 PM PST by allendale
[ Post Reply | Private Reply | To 1 | View Replies]

To: marcusmaximus

Any outstanding bonuses earned for 2022 performance had to be paid by March 15, by law.


12 posted on 03/11/2023 3:41:39 PM PST by HonorInPa
[ Post Reply | Private Reply | To 1 | View Replies]

To: allendale

I think there’s more too but SVB was founded in 1983 and predates any kind of crypto of which I am aware.


13 posted on 03/11/2023 4:03:14 PM PST by fretzer
[ Post Reply | Private Reply | To 11 | View Replies]

To: HonorInPa

The woke banksters who killed SVB and looted the remaining cash prior to the shutdown were just following the law? That’s a good one.


14 posted on 03/11/2023 4:05:00 PM PST by marcusmaximus
[ Post Reply | Private Reply | To 12 | View Replies]

To: marcusmaximus

I have no doubt this bank will be deemed too big to fail, meaning we will have to cough up $ to bail them out.


15 posted on 03/11/2023 4:16:06 PM PST by aMorePerfectUnion (Fraud vitiates everything. )
[ Post Reply | Private Reply | To 1 | View Replies]

To: aMorePerfectUnion

The bailouts are typically announced on Sunday nights before the Asian markets open. We’ll know tomorrow I bet.


16 posted on 03/11/2023 4:18:28 PM PST by marcusmaximus
[ Post Reply | Private Reply | To 15 | View Replies]

To: glorgau

Were they deposited in SVB accounts?


17 posted on 03/11/2023 4:18:51 PM PST by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
[ Post Reply | Private Reply | To 2 | View Replies]

To: aMorePerfectUnion
I have no doubt this bank will be deemed too big to fail, meaning we will have to cough up $ to bail them out.

We'll just borrow the money. Our kids and grand kids will have to pay it back.

18 posted on 03/11/2023 4:36:19 PM PST by TwelveOfTwenty (Will whoever keeps asking if this country can get any more insane please stop?)
[ Post Reply | Private Reply | To 15 | View Replies]

To: marcusmaximus

Take them back and much more.


19 posted on 03/11/2023 5:06:33 PM PST by Trumpisourlastchance
[ Post Reply | Private Reply | To 1 | View Replies]

To: allendale

SVB has been in business far longer than crypto has existed—since 1983


20 posted on 03/11/2023 5:36:06 PM PST by Manuel OKelley
[ Post Reply | Private Reply | To 11 | View Replies]


Navigation: use the links below to view more comments.
first 1-2021-28 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson