Re:SVB lobbied the government to relax some Dodd-Frank provi...
by riffraff on Sunday March 12, 2023 @03:36AM
(#35117735)
Banks often do this, trade short term risk for long term and pocket the difference.
It seems SVB didn't account for the fact that there was a strong correlation between the source of their money (tech propped up by low rates) and their investment risk (bonds/loans propped up by low rates).
I'm honestly unsure if we can ascribe this to to incompetence or greed.
It seems SVB didn't account for the fact that there was a strong correlation between the source of their money (tech propped up by low rates) and their investment risk (bonds/loans propped up by low rates).
I'm honestly unsure if we can ascribe this to to incompetence or greed.