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Silicon Valley Bank paid out bonuses hours before seizure. So ya they don't need a bailout lol.
by ilrwbwrkhv 4y ago
Silicon Valley Bank paid out bonuses hours before seizure. So ya they don't need a bailout lol.
- mtmail 4y agoA discussion about the employee bonuses is at https://news.ycombinator.com/item?id=35112827 https://news.ycombinator.com/item?id=35112827 and those seem fine, despite the bad image and timing. The blog post here is more about bailing out bank's customers, not employees I think.
- choppaface 4y agoThose bonuses were for 2022 so probably delayed: https://www.cnbc.com/amp/2023/03/11/silicon-valley-bank-employees-received-bonuses-hours-before-takeover.html https://www.cnbc.com/amp/2023/03/11/silicon-valley-bank-empl... While the fact that the bonuses were paid at the time does help underscore the level of malfeasance of the bank leadership, many of those receiving the bonuses probably didn’t know about the gaps.