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through the tech industry and generated a mix of sadness, bewilderment and anger about how such a trusted institution could unravel so quickly and who was to blame for the stunning collapse.Twitter.
"They should have never gotten themselves into this situation in the first place," said Jamie Montgomery, co-founder and managing partner of March Capital."The bank had an exposed position in the last few years and was trying to take more risk than they understood they were taking. The leadership has to be accountable."PATRICK T.
SVB's customer and industry concentration risks may not have been fully appreciated, according to Rick Remiker, a former senior executive at a large regional bank. So, executives searched for yield elsewhere and ended up betting big on mortgage-backed securities, locking in more than $80 billion at an average yield of 1.56%.
Although the panic that doomed SVB seemed to come on suddenly, there were also apparent lapses in corporate governance for months leading up to the collapse.
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