Article

2023-03-12 -Lurid Crime Tales-

Silicon Valley Bank CEO Sold $3.6M in Stock Before Collapse, Mysteriously out as Fed Reserve Board Member

[Red State] As RedState’s Joe Cunningham reported, Silicon Valley Bank (SVB) was taken over and shut down by federal regulators Friday in one of the biggest financial failures in history, and the largest since the Global Financial Crisis of 2008. The bank’s collapse sent stocks tumbling and ignited worries about "contagion"—in other words, more bank failures.

Multiple reports describe people lining up outside SVB branches hoping to get their money out; the NYPD was even dispatched in New York City to calm things down.

But now the plot thickens, as Fortune reports:

Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that led to its failure.

The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings. He filed the plan that allowed him to sell the shares on Jan. 26.

Posted by Besoeker 2023-03-12 03:29|| || Front Page|| [13 views ] Top

#1 Did he notify the Dems who specialize in insider trading shenanigans.

Posted by Mad Eye Omeretch7959 2023-03-12 05:30|| 2023-03-12 05:30|| Front Page Top

#2 Greg had no intention of 'going down with the ship' did he ?

Posted by Besoeker 2023-03-12 06:08|| 2023-03-12 06:08|| Front Page Top

#3 NYP - While Silicon Valley Bank collapsed, top executive pushed ‘woke’ programs

Posted by Besoeker 2023-03-12 06:12|| 2023-03-12 06:12|| Front Page Top

#4 I'm starting to think there's not enough OPM to do "Woke" "Progressive" and "Forever War" all at the same time.

Posted by M. Murcek 2023-03-12 07:43|| 2023-03-12 07:43|| Front Page Top

#5 The FDIC will claw this back.

Posted by Tom 2023-03-12 13:30|| 2023-03-12 13:30|| Front Page Top

#6 Let him keep enough for commissary purchases.

Posted by Super Hose 2023-03-12 14:34|| 2023-03-12 14:34|| Front Page Top

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