bearrock Posted March 13 Share Posted March 13 21 minutes ago, Fergasun said: This is the Fed Action: So the Fed is once again stepping in as a lender of last resort. We need a law to clawback bonus money from CEO and CFO and other Senior Executives in cases like this. I think there is something shady about they way this one bank is such s lynch pin of funding for Silicon Valley. Bribes, kickbacks, loans not available to the average person. Those are addressing two different things though. SVB deposit protection above and beyond FDIC insurance limit is being funded (if current SVB assets are insufficient to cover them) by assessments on other banks. The BTFP is a lending program backed by federal funds to allow banks who may have overskewed their assets on high quality long term assets to use it as collateral to access funds to ensure short term liquidity. That's a preventative action to avoid future SVBs. But yeah, totally agree that individual accountability of executives have to be on the table in situations like this. The timing of the stock sales by the CEO and the spooked run on SVB by the venture capital industry seem pretty fishy. Gotta wonder who knew what and when. Link to comment Share on other sites More sharing options...
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