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I think it's likely that certain actors were pulling the strings behind the scenes to trigger the run and make a hefty profit in the process. But they are nothi
by fuoqi 4y ago
I think it's likely that certain actors were pulling the strings behind the scenes to trigger the run and make a hefty profit in the process. But they are nothing more than capitalistic hyenas, the root issue lies in irresponsible SVB management and reckless tightening by FED.
- paxys 4y agoNo one was making a "hefty profit" off the bank run. It was a case of a panic selloff, nothing more.
- fuoqi 4y agoAnd of course no one has shorted the stocks. /s
- paxys 4y agoI assume you know the answer? Or are just pulling facts out of nowhere?
- fuoqi 4y agoThis is why I wrote "likely", but as for facts, I know that SVB's CEO has sold his stocks on March 1 for $3M (in addition to a number of earlier sells). And according to Bloomberg short sellers made at least $500M in profits: https://www.bloomberg.com/news/articles/2023-03-10/shorts-make-500-million-on-svb-demise-collecting-won-t-be-easy https://www.bloomberg.com/news/articles/2023-03-10/shorts-ma... I absolutely will not be surprised if in the future we will learn that some enterprising individuals connected to the VC crowd have helped to trigger the run in the right time for them.
- 7speter 4y agoOr the banks leadership saw the inevitable writing on the wall and knew someone was going to start a run.