Failure’s Fallout

Comments on LinkedIn from Silicon Valley Bank ex-employees, reacting to the bank’s failure. They’ve been abruptly and unexpectedly forced into social networking searches for new jobs, and LinkedIn is the best place to do that. So you won’t see more than the very faintest hints of negativity.

https://www.linkedin.com/news/story/svb-employees-react-to-its-fall-6207514/

Planet Money provides its after-the-fact analysis of what happened:

Economist Paul Krugman has this comment:

Just a few years ago, S.V.B. was one of the midsize banks that lobbied successfully for the removal of regulations that might have prevented this disaster, and the tech sector is famously full of libertarians who like to denounce big government right up to the minute they themselves needed government aid.

https://www.nytimes.com/2023/03/14/opinion/silicon-valley-bank-bailout.html

Here’s something that should surprise absolutely no one:

Silicon Valley Bank CEO Greg Becker sold $3.6 million of company stock two weeks before the bank reported massive losses in the run up to the bank’s implosion, according to regulatory filings.

https://www.npr.org/2023/03/14/1163366706/justice-department-opens-probe-into-silicon-valley-bank-after-its-sudden-collaps

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