Simple to understand 'banking one o one' Silicon Valley Bank 'got it wrong'

Motley Fool Chief Investment Officer Scott Phillips says Silicon Valley Bank got the basics of banking one o one wrong.

“It’s not Silicon Valley per se that caused this problem ... it’s just a fundamental miss management of the very simple treasury functions of a bank,” he told Sky News Australia.

Mr Phillips said all those simple to understand “banking one o one SVB got it wrong”.

“The regulators simply weren’t there, partly, maybe they didn’t do the right job, but almost certainly the regulations themselves weren't enough,” he said.

[oldnutta]

It wasn't a mistake, the heads were pulling their shares before it happened.
They knew.

[meredithisme]

Six other banks have ceased trading this is not a blip

[kidsoxoxox]

This was not a small bank, contagion will spread. Yellen should of kept her trap shut over the weekend, only made it accelerate. Withdraws were occurring at USD$ 1, 000, 000 per second, totally different to 2008.

[someoneelse]

The CEO of svb joined in 2007, he was prior to that employed at... YOU GUESSED IT, legman brothers.... shock horror.

And before that he was employed at jp morgan
Where he learned his trade....


You cannot make this shit up.

[barryrammer]

Check out their risk management chief operating officer. Let's just say it's a woke hire, lol 😆

[OVERHERE-OVERHERE]

How many people here made a bank withdrawal today…