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Didn’t their shareholders get completely wiped out? How is SVB (to the extent it’s anything, it’s the shareholders), not being held responsible? The people bei
by rhaway84773 4y ago
Didn’t their shareholders get completely wiped out? How is SVB (to the extent it’s anything, it’s the shareholders), not being held responsible?
The people being protected here aren’t SVB. It’s the customers.
- alecco 4y agoBefore the collapse, executives sold shares. Gregory Becker, CEO, sold 11% on Feb 27, 2023. Before the collapse, executives sold shares. Gregory Becker, CEO, sold 11% on Feb 27, 2023. Michael Zucker, Counsel, 19% on Feb 5. Daniel Beck, CFO, 32% on Feb 27. Michelle Draper, CMO, 25% on Feb 1. Michael Zucker, Counsel, 19% on Feb 5. Daniel Beck, CFO, 32% on Feb 27. Michelle Draper, CMO, 25% on Feb 1. https://unusualwhales.com/news/numerous-corporate-executives-sold-silicon-valley-bank-sivb-stock-before-the-collapse https://unusualwhales.com/news/numerous-corporate-executives... Becker was a member of SF Fed and led anti Basel III regulation for SVB.
- colpabar 4y agoI can't wait to see what they do next! Surely people with such excellent foresight should lead financial institutions for the rest of their lives.