Mar 13, 2023

Silicone Capitalism

Techno dollars, plastic accounts,

Incubate silently, suddenly cashing out,

Planning a clandestine flight,

Overruled the oversight,

When Feds come knocking on the door,

bail out the billionaires on the backs of the poor.


* According to the Washington Examiner: Silicon Valley Bank CEO Greg Becker cashed out stock options in the weeks leading up to Friday's collapse, netting him a $2.27 million profit, public filings reveal. 

 ** According to Fortune, SVB CEO Greg Becker lobbied for the the relaxation of regulations on SVB and the regional banking system.

**According to Bloomberg, Paypal co-founder Peter Thiel's Founders Fund had no cash left in Silicon Valley Bank by the time the Feds took over the failing institution. 

 

 

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