[chrisk]

Equity holders of SVB have been, and should be, wiped out.  

SVB has 8500 employees (including my sister in law, who is a mid level manager in back office operations); the vast majority had nothing to do with the collapse or the decisions that led up to it. I'd imagine most of those employees hold SVB stock as part of their 401ks. "Should be" seems a little harsh, when you consider that retirement plans have just been wiped out.

Agree 100%. My wife worked there, for the last 7 months, and her best friend for the last 8+ years. My wife didn’t work there long enough to have stock, but her friend was there for 8+ years and was heavily invested. There is no scenario in which she deserved to be wiped out for decisions that she had no part in.

The risk of keeping too much stock in your employer is why the SVB CEO sold over $3M of his stock the week before.
The rank and file need to follow his example. It was lucky the employees were paid their annual bonuses Friday.

I understand that employees will receive 150% of their salary for the next 45 days.

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My guess is that they had to move to guarantee the depositors because they couldn't find a bank that would be willing to take on the broadly mismanaged mess that is Silicon Valley Bank.

I doubt their officers will do jail time. Stupidity isn't generally criminal.

Selling stock based on insider information could be.

[chrisk]

Equity holders of SVB have been, and should be, wiped out.  

SVB has 8500 employees (including my sister in law, who is a mid level manager in back office operations); the vast majority had nothing to do with the collapse or the decisions that led up to it. I'd imagine most of those employees hold SVB stock as part of their 401ks. "Should be" seems a little harsh, when you consider that retirement plans have just been wiped out.

Agree 100%. My wife worked there, for the last 7 months, and her best friend for the last 8+ years. My wife didn’t work there long enough to have stock, but her friend was there for 8+ years and was heavily invested. There is no scenario in which she deserved to be wiped out for decisions that she had no part in.

The risk of keeping too much stock in your employer is why the SVB CEO sold over $3M of his stock the week before.
The rank and file need to follow his example. It was lucky the employees were paid their annual bonuses Friday.

I understand that employees will receive 150% of their salary for the next 45 days.

---

My guess is that they had to move to guarantee the depositors because they couldn't find a bank that would be willing to take on the broadly mismanaged mess that is Silicon Valley Bank.

I doubt their officers will do jail time. Stupidity isn't generally criminal.

Selling stock based on insider information could be.