Silicon Valley Bank CEO Greg Becker’s obfuscation

This topic has 3 replies, 2 voices, and was last updated 2 years, 10 months ago by Beeg_Dawg.

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- May 16, 2023 at 9:48 am #7216
  
  Mick1
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  Greg Becker says that no bank could have survived two days’ worth of twelve-figure withdrawals. And that’s true, except for four banks.
  
  But did he shepherd Silicon Valley Bank appropriately? Personally, I don’t think so. I think he was brutally incompetent and he and his bank’s management ignored warning signals for years and made unconscionably stupid decisions in their arrogance.
  
  You decide.
  
  Former Silicon Valley Bank CEO says no bank could have survived what it faced (msn.com)
  
  Audaces fortuna iuvat
- May 16, 2023 at 10:40 pm #7223
  
  Mick1
  Participant
  
  Apparently Senator Kennedy excoriated Greg Becker in hearings for his stupid gamble. Bipartisan pressure at its finest for the most incompetent bank CEO in history.
  
  Silicon Valley Bank CEO slammed by senator for ‘really stupid bet’
  
  Audaces fortuna iuvat
- June 22, 2023 at 6:50 pm #7377
  
  Mick1
  Participant
  
  Here’s Greg Becker testifying before Congress. Pocahontas doesn’t like the fact that he took in $40 million in compensation and cost the FDIC $20 billion:
  
  Audaces fortuna iuvat
- June 23, 2023 at 2:39 pm #7378
  
  Beeg_Dawg
  Participant
  
  Fauxcahontas should save her vitriol for the FDIC.
  https://www.cnn.com/2023/06/23/investing/svb-bank-fdic/index.html
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