Tag Archives: Silicon Valley Bank

03/15/23

Silicon Valley Bank — Losers, Winners, Saints, Sinners

In the sordid saga of Silicon Valley Bank who are the losers, winners, saints, and sinners?

Losers

 1. The management who all rightfully were fired for their gross incompetence. Particular note of CEO Gary Becker who really blew it.

 2. The incompetent Board of Directors who failed to provide even a modicum of actual oversight.

 3. The shareholders who owned the now worthless stock.

 4. A goodly number of the employees who will lose their jobs in the latchup that follows hereafter.

 5. The real estate lessors who leased space to SVB. All those leases will be cancelled in bankruptcy or insolvency.

 6. The plethora of vendors who provided services to SVB who will now never be paid because of the bankruptcy. Continue reading →

03/14/23

BAILOUT – The Bailout of Venture Capitalists and Startups @ Silicon Valley Bank

Comes now the sordid tale of Silicon Valley Bank which failed spectacularly last week triggering the Biden admin to BAILOUT their donor class pals in the venture capital and startup world under the authority granted to the Federal Deposit Insurance Corporation to deal with “exceptional” situations that present a “systemic risk” to the entire banking system.

“Come on, man, you thought we were going to let our pals in the VC and startup world play by the rules? Oh, ye, of little faith. Get out of here.”

Continue reading →