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The Latest Breaking News from Greg Becker

Silicon Valley Bank Collapse Turned Into Musical Comedy By Composer

Software engineer Mauricio Costa draws inspiration from Lin-Manuel Miranda for 'The Valley' musical

Zenger

Benchmark’s Bill Gurley predicted the tech bubble would burst almost a decade ago. Here’s what he sees ahead

“We've always said that good judgment comes from experience, and [experience] comes from bad judgment,” quips the legendary VC from his new outpost in Austin.

Fortune

In his first public appearance since SVB’s collapse, former CEO Greg Becker is asked to defend trip to Hawaii and whether he’ll forfeit $1.5 million bonus

Greg Becker acknowledged that regulators had pointed out flaws in SVB's balance sheet, but said that he was in the process of working with regulators when the bank run occurred.

Fortune

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Silicon Valley Bank’s former CEO tells Senate he is ‘truly sorry’ for collapse

Greg Becker tells banking committee that takeover of SVB was ‘personally and professionally devastating’

The Guardian - US

CEO pay again in focus as the heads of failed banks appear before Senate panel

The recent failures of a trio of midsize banks has once again raised questions on whether executive compensation is tilted toward short-term gains rather than companies' long-term health

The Independent UK

Recent banking crises are rooted in a system that rewards excessive risk-taking -- as First Republic's failure shows

First Republic Bank became the second-biggest bank failure in U.S. history after the lender was seized by the Federal Deposit Insurance Corp. and sold to JPMorgan Chase on May 1, 2023. First Republic is the latest victim of the panic that has roiled small and midsize banks since the failure…

The Conversation

Silicon Valley Bank: the multiple warnings that were missed

Ahead of the first official postmortem on its collapse, bankers, regulators and executives admit that it was a crisis hiding in plain sight

Financial Times

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Warren Buffett wants bosses of failed banks to live like they 'work on a Ford production line'

The Berkshire Hathaway said CEOs and directors of failed banks must be penalized in order to deter similar behavior in the future.

Fortune

Janet Yellen says the Trump administration 'decimated' the Treasury's financial stability department and she's focused on repairing the 'cracks'

Yellen claimed many teams responsible for banking regulation were either drastically cut or completely eliminated before her tenure, and she’s had to “rebuild the financial stability infrastructure.”

Fortune

Here’s Why You Should Read Between the Lines of Unusual Options Volume

While the heavyweights offered words of reassurance to investors regarding Deutsche Bank’s fallout, everyone should instead look to the unusual options volume indicator.

Barchart

Deutsche Bank scare forces Germany's chancellor to urge investors not to panic

Deutsche shares fell as much as 15% in trading on Friday, prompting concerns it might be the next domino to fall after failed lender Credit Suisse.

Fortune

Silicon Valley Bank CEO Sold $3.6 Million In Stock And Could Be Hiding In Hawaii Now

SVB at the center of the financial crisis of March 2023 saw several insiders sell shares before the bank run by its customers

Zenger

Army of lobbyists helped water down banking regulations

A handful of red-state Democrats were instrumental in helping Republicans secure a rollback of banking regulations sought by then-President Donald Trump in 2018

The Independent UK

Doyle McManus: Silicon Valley Bank's collapse may be a blessing in disguise

In the brief but spectacular collapse of Silicon Valley Bank, we may just have witnessed the best banking crisis ever.

Los Angeles Times

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The Guardian - US

US banks want socialism for themselves - and capitalism for everyone else

When banks like Silicon Valley Bank collapse, money floods to bigger ones like JPMorgan. Clients know they’re ‘too big to fail’

The Conversation

The collapse of major US banks leads to bills calling for more regulation

When Silicon Valley and Signature banks failed in early March 2023, government regulators rushed in to guarantee deposits and protect bank customers. Under current banking regulations, though, there was no obligation for the government to step in.

Salon

SVB collapse reveals regulatory failure

It's a familiar cycle: Boom, bust, then bailout. Now everyone is wondering where the financial regulators were

Fortune

SVB's disgraced ex-CEO is now holidaying in Hawaii

Becker was pictured sporting flip-flops and sunglasses in Hawaii as SVB's new CEO sought to reassure clients.

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The Guardian - US

Silicon Valley Bank said it was too small to need regulation. Now it’s ‘too big to fail’

Student debts and underwater mortgages are private burdens, but corporate losses are matters of urgent public interest

Fortune

SVB, First Republic CEOs involved in lobbying pre-banking crisis

In late January, First Republic Bank's CEO wrote to U.S. regulators saying his bank did not pose signficant risk to the U.S.'s financial stability.

Zenger

The DOJ And The SEC Probing The Investigations Of The Collapse Of Silicon Valley Bank

The investigation of the failure of Silicon Valley Bank involve shares that sold and bonds that were bought by the bank

Tribune News Service

Editorial: SVB failure adds to tech industry’s greedy image

Day by day, month by month, year by year, greed is ruining the tech industry’s image.

Businessweek

Arrogance, Incompetence or Both: What SVB’s Failure Really Means

The implosion of Silicon Valley’s favorite bank, which became increasingly dependent on venture capital and private equity, was rooted in hubris as much as its balance sheet.

Los Angeles Times

Did deregulation lead to Silicon Valley Bank's collapse?

It was a scene straight out of the Great Depression: a major California bank locking its doors and pulling down the shades as a horde of panicky depositors demanded their money.

Fortune

Elizabeth Warren is among the furious politicians demanding SVB execs return their salaries, bonuses, and $84 million in stock sale profits

Sen. Elizabeth Warren says SVB execs should give back their salaries for “facilitating a near-economic disaster.”

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