In this video, we take a closer look at the collapse of Silicon Valley Bank (SVB), which was one of the banks that went down during the ongoing banking crisis. SVB was a politically correct and extremely diverse operation that pledged billions of dollars to progressive causes. Many have speculated that the bank was more focused on social justice than financial risk, which contributed to its demise. Venture capitalists, those involved in climate initiatives, and the big tech crowd had their money in SVB. When the herd mentality mimeticism kicked in, everyone started pulling their money out at the same time, causing an old fashioned bank run to occur. The video explores some interesting details in this tale, including the CEO and top executives selling a large amount of their shares just before the bank collapsed, and SVB paying out annual bonuses to their employees at 1.5 to 2X their regular salaries just hours before going bust. We also examine what actually caused the bank to collapse and how depositors were bailed out, on the dime of the little guy. This video will be an eye-opener for those interested in the ongoing banking crisis and the bigger picture issues at the core of the Silicon Valley Bank collapse.
Source: AIER Library