SVBs problems didn't appear overnight. With each rate hike they were a bit worse, but had they been forced to act earlier rather than later it would have helped a lot. Regular stress tests would have performed that function.
And yet nobody knows who the fools running the bank were. We don't have their names all over the news. It's as if SVB was run automatically, with no humans at the helm.
The rich really get to destroy lives without consequence.
What are you really excoriating them for though? Destroying some capital? No one’s lives have been destroyed behind this mess
He’s already being painted as bogeyman, even before anyone has proven that he has done anything wrong.
SVB had two other problems that would not be identified simply by looking at minimum amounts: duration risk and lack of liquidity.