Steve on Nostr: So SVB keeps AUM under $250B to avoid being declared a systemic risk bank with ...

So SVB keeps AUM under $250B to avoid being declared a systemic risk bank with additional oversights. Before the stock crashes and FDIC takes over, CEO sells over $3M in stock and pays out employee bonuses. Then today, Fed declares it a systemic risk bank anyway and bails them out full stop, even though Yellen said we won’t yesterday. 🤡

Yet again, play with fire, get too big, and you’ll be saved. Rewarding poor risk management. (SVB didn’t hedge interest rate volatility risk like everyone is supposed to do)

This is why I ❤️ #Bitcoin