SIVB was corrupt, in my opinion. CEO Becker was on the Board of the SF Fed (now removed). He's no dummy, he knew exactly what he was doing. He was vastly overstating earnings and misleading people by not taking losses along the way. He lobbied for the rule changes for banks his size. He destroyed the savings of his stockholders by taking absurd risks that should never be taken by a bank. Reckless, willfull misconduct, and gross negligence for someone in the banking profession. In order to stay out of prison, he should be forced to give back (to his stockholders) every dime of money he made from stock sales over the last 3 years, at least. Should also have to personally pay back to stockholders the bonuses he paid out to employees right before the Fed's shut them down. That's not his money to be handing out -- that's shareholder's money.
If he wants to run the place like it's his personal kingdom, then he should also be held personally liable and sued into oblivion. He profited and others responsible bankers (and ultimately the public) are forced to take the losses. Disgusting.
