Employees at Silicon Valley Bank reportedly received their annual bonuses just hours before federal regulators took over the company.
The bank held a reputation as a go-to for a number of Silicon Valley industries and startups. Y Combinator, an incubator startup that launched Airbnb, DoorDash and DropBox, regularly referred entrepreneurs to them.SVB's collapse was so quick that, hours before its closure, some industry analysts were hopeful that the bank was still a good investment. The bank’s shares had fallen by 60% on Friday morning after a similar drop the day before.
Anxious depositors rushed to withdraw their money over concern for the bank’s health, causing its collapse, which may serve as "anEntrepreneur and Dallas Mavericks owner Mark Cuban called for federal regulators to buy out the bank earlier on Friday. "The Fed should IMMEDIATELY buy all the securities/debt the bank owns at near par, which should be enough to cover most deposits," Cuban wrote as part of a lengthy Twitter chain last week. "Any losses paid for in equity and new debt from the new bank or whoever buys it. The Fed knew this was a risk. They should own it." / Getty Images)
Why does it matter? Who spends the money, Biden! Where Biden spends His money, Ukraine! Didn't have issues like this 3 years ago under President Donald Trump! Peso's went from $24 to $17 per $1.00 USD. ASK BIDEN! NOT WORKERS AT A BANK. ASK JP, BOA, why they get bailouts!!!
Rumors say Hunter Biden received a bonus before the bank closed
$Money is nothing but green ink on paper it's how you get it that gives it value. Those folks getting bonuses at SVB should take a good look in the mirror.
Criminal behavior. Throw the book at the execs.
PEOPLE OUGHT TO GO TO PRISON FOR THAT
Bet Newsome abd his family got something
Claw the money back.
I know what i am going to do. No more money in the banking system!!!!! Buy crypto and put it in a cold wallet!!! bankrun
Chuck Schumer lead in 2015
TrySmallBiz Of course they did ! and now they will our tax $$ to save them too 🤬🤬🤮
Should be criminal
Uh that’s not good. Neither is senior management liquidating their stock in the days leading up to the collapse. I think some jail time is in order for those goons.
hmmmm