And excellent breakdown of why SVB died and why they don’t deserve a bailout.
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They almost surely took these risks with some assurances that if this happened they would be covered, considering their clientele.
It'll just be quiet, behind the scenes and off the books. Publicly they'll fail, privately the largest investors will get their money back and then some.
Nobody will see jail time for mismanagement since everything they did was legal, just tremendously stupid.
Yeah, this seems most likely. No one will actually learn from this.
I'm all for jailing silicon valley types but why would you jail anything for legal but stupid things?
In an ideal world lobbying for changes just to abuse them at peoples expense should fall under criminal mismanagement in certain industries, this being one of them.
Frankly I think lobbying as an entire industry should be outlawed and incredibly heavy fines levied. No reason for that nonsense to exist.
What is it when I contact my local representative to suggest my opinion?
That depends are you getting paid for contacting your local representative to push a specific opinion?
There's a big difference between lobbying and politicking.
Is there any way to ban corporate lobbying but not ban this?