Ex-SVB CEO Is Asked If He'll Return His Bonus

Greg Becker, ex-chief executive officer of Silicon Valley Bank, was asked by Senator Robert Menendez if he deserved the bonus he was paid shortly before the bank was seized by federal regulators. Becker testifies before the Senate Banking Committee.

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[lserranov]

So a CEO doest know when bonuses are due? With that type of CEO no surprise bank went down

[hobonickel]

A bonus is supposed to be for performance above and beyond which the base salary compensated him for. Not only should he return the bonus, he should return all his salary.

[Krranski]

So, that means, "No, unless I am legally required to" which can be practically shortened to simply, "No".

[cejomlk]

A criminal will never admit of wrongdoing except when a better deal arrives.

[apt]

why don't they ever bring in the board LMAO Always asking a CEO, they go to the board. BRING IN THE BOARD!!!!

[SupremeST]

His neck could’ve touched his chin with all of that dodging

[onthenextthing]

Corruption is what you're witnessing. You can't be the head of a bank and then claim you didn't know why it collapsed. The incompetence and lies are astonishing.

[tropics]

I am sure the board if directors and the independent compensation committee got theirs also. Is this not criminal ? Did prosecution, jail not make them pause ? 🤦‍♂️

[Bugsy]

No he will not return the money .Does he care about the investors that lost all of there money ? No. Does he sleep well at night knowing this has destroyed a lot of people ? Yes
He could not care less, it is all about what is in it for him and always has been.

[Solairethedarksoul]

Dude doesn’t want to give his bonus back, despite likely not needing the money.

[rustler]

"I'm going to co-operate with the regulators as they look at that specific area", in this context is actually just another way of saying "over my dead body". If this man had a shred of dignity left he would give that bonus up. This bonus is so special they should give it a special name.: the silicon bonus

[cornycorn]

they'll go to work for another bank, hedge funds, sec, dtcc and so on lol

[markburnham]

Classic CEO-speak. Never answered a single question.

[swb]

“Pre determined by the board” board must have said make dumb decisions and you get a bonus

[georgemaximus]

Well it’s not my fault they offered me lots of bonus. The captain of the ship gets a lifeboat with the treasure chest with it. The ship goes down but the taxpayers are always there to bailout the banks. Nothing to worry about.

[irishfan]

This guy made $9.9 million in salary and $1.5 million bonus in 2022. Is anyone going to go to jail over this? The IRS will threaten to throw us in jail for not paying our own money in taxes back to them but this type of crime goes unpunished?

[Zero_ss]

CEO = most overvalued thing at any company

[davey]

menendez indicted on corruption too. all of them are crocked.

[MrSuperbluesky]

He earned every penny of those bonuses and salary!

[thomasucc]

He should not return bonus, once money is turned over it is the company's problem