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Silicon Valley Bank's Chief Risk Officer Resigned Last Spring
Silicon Valley Bank's chief risk officer resigned last spring. There were a lot of red flags even without stress tests that it seems to me the Fed should have caught. I think there is work being done right as we talk at the Federal Reserve to better understand why they didn't pick up on some of these red flags. With lots of oversight of banks and bank regulators, there's going to be an incentive for bank management to be quite risk averse.