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Justice Department and SEC to probe stock
sales ahead of Silicon Valley Bank collapse,
report says

Original Article

Posted By: Dreadnought, 3/14/2023 10:44:48 AM

The US Department of Justice and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, The Wall Street Journal reports, citing people familiar with the matter. The tech and start-up-focused lender based in Santa Clara, California, was taken over by regulators on Friday during a run on its deposits, making it the second-largest bank failure in US history. It is not unusual for there to be such investigations when large financial institutions or public companies collapse or suffer unexpected losses, but the separate probes will also look at stock sales that company bosses made days before the bank failed. Shares in SVB Financial Group,

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Reply 1 - Posted by: Nimby 3/14/2023 11:01:12 AM (No. 1424735)
Fox and hen house comes to my mind
7 people like this.

Reply 2 - Posted by: mc squared 3/14/2023 11:31:36 AM (No. 1424774)
Oh, good. I'm going to wear safety goggles to watch this sheit show. Maybe they can reassemble the Jan 6th committee.
6 people like this.

Reply 3 - Posted by: Msquared112 3/14/2023 11:41:29 AM (No. 1424786)
Somebody is always "probing" or investigating and no one ever is held accountable except Trump, mostly for things he never did.Just once, I'd like to see the Leftists get justice instead of off the hook.
9 people like this.

Reply 4 - Posted by: janjan 3/14/2023 11:56:42 AM (No. 1424798)
What is there to ‘probe’? The bank executives took care of themselves and made sure bonuses got paid before the bank collapsed. The DOJ will wait for the smoke to clear before they quietly let this die.
9 people like this.

Reply 5 - Posted by: Birddog 3/14/2023 11:56:45 AM (No. 1424799)
it is "Possible" that their stock sales were altruistic, designed to prop up other investors and the bank. They made the stock sales at a high valuation, and have to pay the capital gains at that price, IF they then also deposited those proceeds as cash into the bank, rather than as investments outside of the Bank, it would have helped to offset the "Run". (Putting their money where their mouth was) They were , at the same time asking others to do the same. But the amounts proved insufficient to offset the rapid same day withdrawals by Theil and others. In hindsight, I'll bet EVERYBODY wishes they had sold off the lousy rate "Investments" in US Treasury Bonds in smaller tranches. Earlier. I can see a connection with the whole "Quantitative easing", zero interest Super Jumbo loans to Banks/Hedge funds in exchange for buying some low yield bonds. Govt basically PAYING massive borrowers to "Take our Money", that the govt then borrowed back..
1 person likes this.

Reply 6 - Posted by: bighambone 3/14/2023 12:00:45 PM (No. 1424804)
These are reportedly “woke” Democrat banks, so what will happen is anyone’s guess! Could be massive grand theft of a lot of money, with the taxpayers indirectly paying for it through the FDIC insurance premiums paid by their individual banks to the government for all anyone knows? The FDIC insurance we have been told was to guarantee bank deposits up to $250,000.00, but it looks like the Biden crew is going to use that money to bailout millionaires and billionaires who had a lot more money than $250,000.00 in those banks
3 people like this.

Reply 7 - Posted by: Bur Oak 3/14/2023 12:22:15 PM (No. 1424823)
No doubt the DOJ will be looking at stock sales by well connected politicians too. s/o
2 people like this.

Reply 8 - Posted by: daisey 3/14/2023 1:16:05 PM (No. 1424889)
SVB is woke. They’re safe. This is all for show.
2 people like this.

Reply 9 - Posted by: hershey 3/14/2023 1:34:31 PM (No. 1424915)
Might want to check and see if any politicians owned any stock there as well...Pelosi perhaps?
1 person likes this.

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