i use ad blockers religiously, can't read that article or most that get linked.
some cnbc (or bloomberg?) article described how SVB basically disbanded their risk management dept and had like 1/10th of the staff required to gain a realistic picture of their investment risk.
seems like some CEO egos were unchecked and thought they could do that job better than trained and experienced specialists.
which does seem like the intention behind capitalism. cut the ERM dept, save millions, give yourself bonus for making the company more profitable, dump stocks when they inevitably go back, give self more bonus.
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