Just Saying
There’s always that lingering troublesome question: What did they know and when did they know it?
Sounds a bit as if there might be some dereliction of fiduciary duty here. Don’t panic. Just give thanks for the Yellen put.
Bank failures and depositors taking it on the chin is not new. Hardly!
These depositors should not be afforded special conditions because they were in high tech.
In fact, just the opposite. The Silicon Valley and its high tech industry had become too powerful and too political.
Many of the depositors most likely banked there for precisely that reason. They likely supported or donated money to tech firms responsible for censoring you, your families and your various religions if you have any.
Have them tell you the story about three WHO representatives, weeks before the pandemic hit the news here, arrived seeking their help to censor what the WHO would determine was fake news.
Expect those spreading the contagious line of babble to paint the direst of the dire. How sad.
It’s in their own selfish interest. They don’t give a shit about you. And the lockdowns engineered by the Silicon Valley Titans proves the point.
Millions of Americans fed up with the Ukraine war and its money give away carousel and now this Ponzi scheme to bailout an ordinary bank with apparently extraordinary mismanagement skills.
Millions of hurting Americans need to say “Not with our tax dollars.”
“As lines (real and virtual) full of anxious depositors grew last week outside of Silicon Valley Bank branches around the world, and reassurances of "liquidity" were gushed from the C-Suite, three individuals within the firm were perhaps less troubled than those seeking their hard-earned cash back from the soon-to-be-failed bank. Source
12 days ago (on Feb 27th), Gregory Becker, the CEO of Silicon Valley Bank, sold $3.6 million worth (11%) of his shares...
Daniel Beck, the CFO, sold 32% (around $600,000) of his holdings...
And finally, CMO Michelle Draper sold 28%...
“Notice that none of them had sold anything sizable for a year or so before this most recent (pre-collapse) sale (so it is a stretch to call this a pre-planned sale).
“Additionally, Silicon Valley Bank on Friday paid out annual bonuses to eligible U.S. employees, just hours before the bank was seized by the U.S. government, Axios has learned from multiple sources.
“But hey, we are sure it's probably nothing to worry about, right?”