News for hackers. Stuff that matters.

A comment on SVB shows that there are few libertarians in a financial foxhole. Parent comment

Re:SVB shows that there are few libertarians in a financial ... by yunwal on Monday March 13, 2023 @09:13PM (#35145947)
> Greg Becker, the CEO of SVB, was a member of the Board of Directors of the San Francisco Fed

Isn't this like a massive conflict of interest? How is this legal?

[ Parent | on HN ]
Re:SVB shows that there are few libertarians in a financial ... by anigbrowl on Monday March 13, 2023 @10:27PM (#35146577)
No. The Federal Reserve regional banks each have an independent board drawn from a mix of member banks and community stakeholders. Becker resigned or was ousted from his Fed seat on Friday, and ld not have taken part in negotiations - which would not, in any case, be conducted by the board.
[ Parent | on HN ]