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https://archive.ph/RlUop https://archive.ph/RlUop > Loans to officers, directors and principal shareholders, and their related interests, more than tripled fro
by alecco 4y ago
https://archive.ph/RlUop https://archive.ph/RlUop
> Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022, according to government data.
So much for the interest rates and dumb executives narrative…
- ldjkfkdsjnv 4y agoThat narrative was basically the same as Sam Bankman Fried claiming he didnt know about fraud at FTX
- suddenclarity 4y agoThe bank had over 200 billion in assets. Would 200 million even be more than a counting error when a bank run happens?
- m00x 4y agoBecause they have a fiduciary duty to their depositors, not themselves. If you control a bank, you make sure that every cent is where it's supposed to be, and that your customers are taken care of first.
- suddenclarity 4y agoNaturally and I doubt anyone would argue otherwise. My point being that OPs comment, about the size of a rounding error was the real reason for the bank going bust, seems highly unlikely.