3 ms·
Do businesses not do any risk assessments to prevent things like this from happening? Especially a business that is providing a critical service to businesses.
by impulser_ 4y ago
Do businesses not do any risk assessments to prevent things like this from happening? Especially a business that is providing a critical service to businesses.
Why are they using a regional bank to handle this?
- smileysteve 4y ago"a regional bank", only 18th biggest in the US.
- impulser_ 4y agoThat only exists in a few regions, hence regional.
- colechristensen 4y agoConsidering the value of SVB stock until yesterday, no reasonable risk assessment would have found anything actionable until yesterday. Payroll being delayed a few days is indeed annoying, but it's not the end of the world.
- impulser_ 4y agoYeah but you have a lot of companies who money is stuck with SVB. Not one of them decided to check out a financial statement for the company holding their money. I checked out their financial statements and they are pretty incredible. They grew their HTM portfolio from ~10b to ~100b in two years. Then you had the Fed come out and say hey we are increasing rates and we aren't going to stop. No one at these companies well like hey maybe this will become a problem and we should protect our cash. Roku had 25% cash at this bank. Why?