Former SVB Chief Blames Fed And Media Hype For Bank's Devastating Collapse
Benzinga
2023-05-16
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Greg Becker, the former CEO of SVB Financial Group, the parent company of Silicon Valley Bank, attributed the bank’s collapse to a combination of factors, including rapid rate hikes by the Federal Reserve and negative sentiment amplified by social media.
This marks the first public statement by Becker since SVB was placed into receivership on March 10.
This marks the first public statement by Becker since SVB was placed into receivership on March 10.
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