Finance expert Steve Sosnick delves into the recent collapse of Silicon Valley-based bank, SVB Financial. He discusses how the bank's success led to its downfall, and how even the Federal Reserve and many other experts failed to predict its collapse.
I also shed light on how the bank's executives sold their shares before the collapse, leaving me wondering if they had any obligation to inform others and if any legal action can/ will be taken.
Steve also touches on the use of 10b1 PLANS and the potential legal liabilities for the executives. Sosnick also explains how the chairman of the bank lobbied for a rule change that allowed SVB Financial to avoid extra scrutiny and regulation as it approached $50 billion in assets. Tune in for a detailed breakdown of the factors that led to the downfall of this seemingly stable bank.
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