Viewing a single comment thread. View all comments

WorshipNickOfferman t1_jc5hsbe wrote

You have an authority on that? Cause google says otherwise. Curious where your information is coming from.

Edit: the lack of an appointed “risk management chief” does not mean SVB did not have a risk management team. It had one. That team just did not have a full officer running it. Guess these distinctions are lost on people around here. Nothing new.


carolinaindian02 OP t1_jc5k9e4 wrote

They didn’t have a risk management officer between April 2022 and January 2023.

Edit: and the risk officer they eventually hired turned out to be ex-Deutsche Bank.


jimbosdayoff t1_jc5q1bk wrote

That sounds like a recipe for...a situation with unmanaged risk


AzertyKeys t1_jc5rk7w wrote

Thanks for posting that. This website turned into Facebook


WorshipNickOfferman t1_jc5rq2l wrote

It’s Reddit. “Bank bad” is all they know. Heaven forbid anyone put any effort into actually understanding what is happening in the world. Knee jerk reactions win the day around here.


Greenmind76 t1_jc6blrf wrote

Most people are tired of seeing bad banks get bailed out and PPP loans be forgiven, while the government argues over forgiving $10-20k of student loan debt…

Let’s not also forget that many people still remember the bullshit from 2008.

Not saying you’re wrong, just saying shit like that leads to a lot of resentment from a lot of people.


SuckMyBallz t1_jc7ah9r wrote

Nobody got bailed out here though except people who had their money in the bank. The bank didn't get bailed out. They no longer exist. The feds are going to give everyone their money that they deposited then recoup the costs by selling off the banks assets. No body is getting free money in this scenario. The back is shutdown and the consumers who had money in the bank will be made whole. This is the opposite of the 08-09 bullshit.


shalafi71 t1_jc9d647 wrote

And if the consumers weren't made whole, those are some of our company vendors. Price hike for us, less money for us.

I should note: My company shares profits very equitably and is 100% aboveboard as to reporting our financial health and plans.


funkyb001 t1_jc61wmh wrote

This is entirely missing the point. It isn’t just “bank bad” it’s “some banks bad, this one might be, but I don’t give a fuck either way”.

This is not unreasonable. You can get cancer and fall into unassailable medical debt whether you are a good person or not. Why should those people squeezed dry by capitalism give a shit when a bank falls to the same system?