[patientplatypus]

Yeah, I don't agree. SVB was so poorly capitalized that any any due diligence whatsoever should have turned up malfeasance - take a look at the JPMorgan note posted here (https://news.ycombinator.com/item?id=35120416). If you have billions in assets then you can't demand the government protect you from not diversifying your portfolio by buying into a single asset class. Any halfway competent CEO could have opened a Vanguard Flagship account or JPMorgan Asset Management account or any other account at a large institutional supplier and created a diversified portfolio.

Just holding a 40/60 split of mixed maturity treasury and corporate bonds and Russel 1000 stocks with low transaction fees would be satisfactory for the majority of companies. And for those that are over that limit or feel they need a more diversified exposure they should have hired a competent asset manager.

And many did do those things. Asking to bail out the people who invested millions of dollars without paying financial professionals to make sure that they did it correctly and with competence is punishing those people that did the right thing. We should provide a safety net in this country for the little guy, but if you have 100s of millions of dollars and you're not willing to hire a few people to make sure you're handling your money correctly I don't have that much sympathy.

People were asking the CEO of SVB what his favorite thing to do to relax was in the last earnings call - the answer is bicycle riding.

Come on.

[Fatnino]

Was bicycle riding the wrong answer? Should he have said fiddling?