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captain554 t1_je3cv9r wrote

Reply to comment by Sufferment in Banks in France Face More Than $1.1 Billion Fines After Raids by 21Rep

Trick is to sell right before the crash: "CEO Greg Becker sold over $3.5 million in company stock, an SEC filing shows. Less than two weeks before Silicon Valley Bank became the largest bank failure since the 2008 financial crisis, top executives at the company sold stock totaling several million dollars, according to federal disclosures obtained by ABC News"

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RE5TE t1_je3q3oa wrote

Executives do that regularly. They're paid in stock, so they sell to get their money. The SEC can easily see if they sold an abnormal amount. I'm sure they're all under a microscope at this very moment.

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herpaderp43321 t1_je3kkwi wrote

Makes it sound like they knew and this would be automatic jail time.

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