Richard Spencer
275 posts
My Preview and Picks for the RBC Canadian Open golfwrx.com/739810/vincenz…
MIAA ALL SENIOR TEAM.
I’m excited to announce my commitment to Salve Regina University to continue my academic and athletic career! I would like to thank my family and the many coaches that have helped me along the way. #goseahawks
Monday could be a mess for lots of banks out there. Buckle up.
Silicon Valley Bank, $SIVB, Management Team: 1. CEO: Director at San Francisco Fed 2. CFO: Former analyst at Freddie Mac 3. Chief Admin Officer: Former CFO of Lehman Brothers 4. Chief Risk Officer: Led credit ratings in 2007 5. Chief Legal Officer: General Counsel at Citibank in 2008 Over the last 2 weeks, management sold nearly $5 million in stock. Who thought this team would work?
SVB had a niche to bank the tech sector which had unintended risks. The extremely large balances of the tech companies started to see sharp declines in deposit balances as they burned through cash. SVB tried to account for the outflows with their sales of their AFS portfolio.
SVB does not deserve a bailout. A deep look at their financial statement reveals how horrific they were at risk management. And in my opinion incompetence explains only part of it. Moral hazard must have been at play. A thread. 1/
@MHSPrincipal54 Big thanks to @iaaboboard130 MVP of the game for MHS. Only allowed/called 3 fouls in 3 full quarters! Unheard of in HS basketball. Remarkable actually!
