Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC

Re:Joint Statement by the Department of the Treasury, Federa... by ineptech on Sunday March 12, 2023 @08:41PM (#35128921)

I don't think oversight comes from shareholders or the CEO, it comes from the customers, right? The desired outcome here is for the companies that banked with SVB to demand more caution from their next bank, meaning they'll pay higher fees; they have no incentive to do that if they don't lose any money in this mess.

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Re:Joint Statement by the Department of the Treasury, Federa... by epvgwwqe on Sunday March 12, 2023 @08:50PM (#35129001)

You don't need to pay a bank higher fees for the bank executives to make adequate financial decisions

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Re:Joint Statement by the Department of the Treasury, Federa... by dgacmu on Sunday March 12, 2023 @09:40PM (#35129561)

Kinda. As someone who banked at SVB, I would not willing put myself, my CFO, and my director of operations through this Friday + weekend again if you handed me a million bucks. We didn't lose money but we're going to have a lot of inconvenience and we had a lot - a lot - of stress and uncertainty and spent a lot of time making contingency plans. A very high cost for a 15 person startup.

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