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I want Ben Mezrich to write a book about this. From the linked summary: 1. Silicon Valley Bank's board of directors and management failed to manage their risk
by rahimnathwani 4y ago
I want Ben Mezrich to write a book about this.
From the linked summary:
1. Silicon Valley Bank's board of directors and management failed to manage their risks;
2. Federal Reserve supervisors did not fully appreciate the extent of the vulnerabilities as Silicon Valley Bank grew in size and complexity;
3. When supervisors did identify vulnerabilities, they did not take sufficient steps to ensure that Silicon Valley Bank fixed those problems quickly enough; and
4. The Board's tailoring approach in response to the Economic Growth, Regulatory Relief, and Consumer Protection Act and a shift in the stance of supervisory policy impeded effective supervision by reducing standards, increasing complexity, and promoting a less assertive supervisory approach.