What Led to the Collapse of Signature Bank?

Bloomberg's Max Abelson talks about what led to the rapid collapse of New York's Signature Bank. It's the "Bloomberg Big Take."

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[davidj]

Just like every other news story on the Signature Bank takeover, the video implies a lot, but gives no concrete reasons. I don’t understand why the lack of details on this takeover isn’t getting more peoples’ attention.

[GT-]

I didnt understand why Signature failed

[girlcheck]

They performed zero risk management or assessment and gambled away their depositors money on a hunch. Not to mention there was no regulation in place to stop them. Their moniker should have been, Warning! No Lifeguard on duty. Depositor Beware.

[victoriaselwyn]

So this isn't actual reporting but is just an ad for content behind a paywall.

[maximegagnon]

this video has zero content. no explanation was given. I want my precious time back

[lionardo]

the regulator shut it down it was not insolvent like SVB. Very suspicious...

[Bob-kein]

Victoria Selwyn has anticipated my comments. I was expecting more substance from Bloomberg. Alas I was disappointed and a little irked at having to waste 4 minutes of my life on this video.

[fartman]

Having a co-author of the Dodd-frank bill on their board of directors didn’t help… yes Barney Frank is a board member

[raphael]

This guy is good at not really saying anything

[andykaufman]

Hope all those She and He's, Zer and Hir find work. Since they suck at banking how about work at Bloomberg Television and hold Gender Identity workshops. It will be only a matter of time before Bloomberg is bankrtupt. On the flip side they can all Learn to Code.

[rodcoulter]

Go WOKE….Go BROKE…..WOKE ain’t business sense.

[jcrules]

OMG Max has the most smuggish smile on his face, I can't watch this video.

[TitusandTesla]

Must be nice to be rich and bailed out on my dime

[juanmanuelpena]

This reporter is a little lost. Signature was not a blue collar bank, it focused on private banking clients.

[sajannj]

Signature bank fall down because the people not checked notes signature

[vatovega]

Okay I’m going back home now I’m so sorry to bother but I have diarrhea all day so long as I’m feeling stressed I need help with diarrhea

[joeybu]

Great job on the bs pronoun class Signature bank.
Would have been nice to focus on the banking but you decided otherwise.

[davidbrooks]

Or call it what it is welfare for billionaires

[davyhamadani]

By the way this reporter who claimed that signature bank is a scrappy bank or blue color bank or implied that they don't have "educated" people running the bank is totally false. I worked with many people who worked in signature bank, I even knew first hand of the senior managers at signature banks and they are smart capable bankers with lots of experience and fit with all different people. that bank is a private banking dominated bank and they revolutionized the banking industry. Goldman Sacks, Morgan Stanley and BOA could not hold a candle in their industry. I don't know why they shut signature bank down, but what i do know it wasn't because they didn't have capable people running this institution. Just to remind you guys, the MBA people who came from Ivey League Collages brought us CDOs and all those BS that kicked our butts in the Credit crisis of 2008 while the "SCRAPY" people at signature weathered this crises rather nicely with no need of a "gov't handout".

[stevescruby]

Absolutely no info here. Trash segment.