The Employees of Silicon Valley Bank Were Given Annual Bonuses Hours Before the Bank Was Taken Over by Regulators

The employees of the failed Silicon Valley Bank were given their annual bonuses only hours before the bank failed and was taken over by regulators. 

TGP reported on the failed Silicon Valley Bank on Friday.  This bank is used by numerous startups and tech companies in Silicon Valley.  It’s the largest bank to fail since Washington Mutual in 2008.

We learned that the top executives in the bank sold their stock weeks before the crash.  This appears to be based on insider information and therefore illegal.

TOP EXECUTIVES with Silicon Valley Bank Sold Their Shares Weeks Before Crash – Investors Tried to Pull $42 Billion on Thursday before Bank Failed on Friday

CNBC reported yesterday that hours before the bank failed, the bank paid its employees their annual bonuses:

Silicon Valley Bank

These actions don’t appear to be ethical or legal.  This is not good and these managerial decisions are an indication of why the bank might have gone under.   

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