Silicon Valley Bank collapses after failing to raise capital

[slug_maine]

 

[slug_maine]

 

[CB91710]

I will make a bet right now with anyone. My money says that the execs at SVB will be charged with no crimes related to the failure of the bank.

Probably not. Incompetence and stupidity are not crimes..

They should be, though!

Yep.
People only go to jail if they actually stole the funds and there's no hope of recovery (Madoff).
Smaller institutions just want their money back, and it's hard to pay it back from jail, so nobody goes to jail.

One of my previous employers got involved in "factoring" (selling the receivables to improve cashflow).
Of course, the cashflow was poor because he treated the company like his personal ATM machine.
Once he discovered that he could "print money", he started cooking the books and selling receivables that did not exist.
Same attitude as the person who pays their credit card bill with another credit card... "Oh, this will float and I'll drop the balance when we get paid for this job..."

Of course, it was discovered when the factoring company audited the books.
Of course, the only way for them to get their money back was for the business to continue to operate.
The CEO was terminated, and the widow of the founder was forced to sell her home (along with the CEO)... but nobody went to jail.

 

[slug_maine]

 

[CB91710]

 

[VictorB]

 

[SteveGangi]

View attachment 677778

I got my house in 1993. It was a low point in the rates, AND in Cali lots of people were already retiring and moving out. It was just good luck for me.

 

[Marshall & Moonshine]

How big a bailout will they be getting, at OUR expense?

It’s the only way to teach them a lesson.
We give them billions, they fire someone from the mail room, and life goes ever on.

 

[disaffected]

And the liquidity for Credit Suisse begins to dry up despite Swiss Natl Bank injections. The regulators are gonna have to find a buyer asap

Multiple Banks Curb Trading With Credit Suisse As Deposit Run Continues Despite SNB Rescue | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[slug_maine]

It’s the only way to teach them a lesson.
We give them billions, they fire someone from the mail room, and life goes ever on.

That's how it works, unless you're a community bank, then they crush you like a bug.

 

[slug_maine]

And the liquidity for Credit Suisse begins to dry up despite Swiss Natl Bank injections. The regulators are gonna have to find a buyer asap

Multiple Banks Curb Trading With Credit Suisse As Deposit Run Continues Despite SNB Rescue | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Stocks going down too much....STOP THE TRADING! What a farce.

 

[SteveC]

Another $300K... Poof, gone.

 

[MikeyTheCat]

Fux’n @SteveC

SVB employees blame remote work for bank failure

What happened at Silicon Valley Bank will likely enter the broader return-to-office debate.

www.axios.com

It is funny to see the blame game going on.

 

[disaffected]

Fux’n @SteveC

SVB employees blame remote work for bank failure

What happened at Silicon Valley Bank will likely enter the broader return-to-office debate.

www.axios.com

It is funny to see the blame game going on.

Congressional hearing coming and blame game goes to 11 like Tufnel's amp

 

[Kamen_Kaiju]

Another $300K... Poof, gone.

It's hard to rob a bank now that everything is online...

 

[SteveGangi]

Stocks going down too much....STOP THE TRADING! What a farce.

Privatized profit, socialized losses. Like I wuz sayin' ...

 

[pnuggett]

Congressional hearing coming and blame game goes to 11 like Tufnel's amp

SVB employees blame remote work for bank failure​

What happened at Silicon Valley Bank will likely enter the broader return-to-office debate.

www.axios.com

It is funny to see the blame game going on.
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Oh right, blame the little guy while the people responsible for the big picture skate. The Execs take credit for success and blame failure on the employees. Fuckin execs should lose everything they have.

 

[slug_maine]

Let's face it, is there anything left we can have confidence in, it's like we just decided all of a sudden to throw out all the tenets of a functioning society. Everything is broken.

 

[MikeyTheCat]

Let's face it, is there anything left we can have confidence in, it's like we just decided all of a sudden to throw out all the tenets of a functioning society. Everything is broken.

Steve’s lack of fucks? We’ll always have that.

 

[SteveGangi]