Inside the collapse of Silicon Valley Bank
Source: The New York Times
In her New York Times article, Maureen Farrell suggests that while the bank’s CEO extolled innovation and the future of tech, the bank paid less attention to risk management and was caught flat-footed by economic change.
The contribution outlines the history of the Silicon Valley Bank, its rapid expansion under Gregory Becker, its questionable investments in long-term government bonds, and its rapid fall early this month.
The author concludes that this example underlines both the persistence, and the dangers of haphazard risk management in the banking industry.