They didn't act fast enough to save any of the SVB brand value which is now probably negative. I look forward to the SVB employee Halloween costumes reminiscent of Lehman Brothers in 2008.
It deserves to be dragged through the gutter for the hubris and incompetence demonstrated by the CEO, CFO etc.
And hopefully a reminder to everyone that they should due diligence on their banks. The fact that they had no CRO and openly lobbied for deregulation should have been major warning signs.
The short answer would be because the SVB brand is essentially owned by the bank's unsecured depositors at this point. You have to balance their recovery against the moral hazards of too earnestly sweeping failure under the rug.
It deserves to be dragged through the gutter for the hubris and incompetence demonstrated by the CEO, CFO etc.
And hopefully a reminder to everyone that they should due diligence on their banks. The fact that they had no CRO and openly lobbied for deregulation should have been major warning signs.