Silicon Valley Bank

[TheRealBadger]

Originally Posted by GTOguy

Anjdog DESTROYED him. Total checkmate. Absolute devastation by FACTS.

Unwinnable.


RESPECT.

Uh, no he didn’t. Most of what he said wasn’t even relevant.

This was an economic failure. Not an issue of distraction. If you understand even the basics of this situation you would know that.

[GTOguy]

Originally Posted by TheRealBadger

Uh, no he didn’t. Most of what he said wasn’t even relevant.

This was an economic failure. Not an issue of distraction. If you understand even the basics of this situation you would know that.

Have you thought about proposing marriage to Greta Thunberg?

You two would get along fabulously.

[GTOguy]

Originally Posted by ZipZap

I'll try one time, and then go.

It is relevant in the fact that their C-Suite exhibited some of the worst decisions imaginable in their investment and risk strategies. They had ample chance in early 22 to cut their losses on the bonds incrementally and not cause the run they did when they took the big loss all at once. They had a full year to fix this risk, that has been fairly obvious for over a year to even us idiots. Rates go up, fixed returns go down. Stupid easy.

I worked for a company based in CA that had 3000 technical employees. As a senior manager, I was told that I always should hire the best qualified. So when a package went forward to HR (People Ops for the PC folks), I was almost always grilled on my choice if it did not fit into a protected class. I was asked to "look again", or, "are you sure there's nobody else as well qualified?" These questions were always asked by a non-technical person. Look, I need someone who is able to provide a detailed analysis on a flyback dc/dc converter in less than two days for a billion dollar spacecraft that is paid for by tax dollars. Excuse me if I don't give a flying **** what the hired person's sex, race, creed, religion, sexual preference, or anything else is. I want the absolute best I can find, and I regularly paid top dollar to get them.

Back to SVB. They could have survived this independent of the current inflation that crippled their long-term bond sale. They did not. If I was an investor/depositor whom stood to lose big money, I would subpoena all of their hiring records, including interviews and decision meetings to ensure they utilized a strategy that was always in my best interest.

Small addition...

The .gov buying the liability is no better than the student loan buyout.

When I was hiring people at my last job, I ran into the EXACT same thing from HR. It was like pulling teeth to hire an actual qualified person that would not be instant deadwood. HR was all about hiring disabled Protected Class people who had no job qualifications other than making their employee base look 'diversified and well balanced'. Three lesbian women, two of which were protected class were hired about 10 years before I retired and absolutely destroyed the place. Then they promoted out and left. The place is now a non-productive joke made up of administrators who know nothing about the original mission statement or the qoals of the outfit. Very sad.

[TheRealBadger]

Originally Posted by GTOguy

Have you thought about proposing marriage to Greta Thunberg?

You two would get along fabulously.

Troll much?

Not sure how those are even related. Is Greta in the banking industry?

[TheRealBadger]

Originally Posted by GTOguy

When I was hiring people at my last job, I ran into the EXACT same thing from HR. It was like pulling teeth to hire an actual qualified person that would not be instant deadwood. HR was all about hiring disabled Protected Class people who had no job qualifications other than making their employee base look 'diversified and well balanced'. Three lesbian women, two of which were protected class were hired about 10 years before I retired and absolutely destroyed the place. Then they promoted out and left. The place is now a non-productive joke made up of administrators who know nothing about the original mission statement or the qoals of the outfit. Very sad.

If only you had enough leadership capability to make it a better place.

[GTOguy]

Originally Posted by TheRealBadger

If only you had enough leadership capability to make it a better place.

As a white male, I did not qualify.

[TheRealBadger]

Originally Posted by GTOguy

As a white male, I did not qualify.

Really? So 30 years ago when you were in the prime leadership age, you were passed over because you are a white male?

Weird. Has never happened to any qualified leaders I’ve ever met.

[Louie Detroit]

Originally Posted by GTOguy

When I was hiring people at my last job, I ran into the EXACT same thing from HR. It was like pulling teeth to hire an actual qualified person that would not be instant deadwood. HR was all about hiring disabled Protected Class people who had no job qualifications other than making their employee base look 'diversified and well balanced'. Three lesbian women, two of which were protected class were hired about 10 years before I retired and absolutely destroyed the place. Then they promoted out and left. The place is now a non-productive joke made up of administrators who know nothing about the original mission statement or the qoals of the outfit. Very sad.

.

[GTOguy]

Originally Posted by TheRealBadger

Really? So 30 years ago when you were in the prime leadership age, you were passed over because you are a white male?

Weird. Has never happened to any qualified leaders I’ve ever met.

30 years ago when I took qualifying examinations, I was given a 30 point penalty on the exam for being white. True story. I passed with flying colors anyways....due to being qualified.

[TheRealBadger]

Originally Posted by GTOguy

30 years ago when I took qualifying examinations, I was given a 30 point penalty on the exam for being white. True story. I passed with flying colors anyways....due to being qualified.

So it didn’t stop you. You just unable to actually progress leadership levels.

Got it. Nothing to be ashamed of

[Old Ben]

Originally Posted by TheRealBadger

Really? So 30 years ago when you were in the prime leadership age, you were passed over because you are a white male?

Weird. Has never happened to any qualified leaders I’ve ever met.

This shit has been going on since the 70s.

I was an Air Force Air Traffic controller in 1974 with 8 years experience. Was selected to attend the FAA Air Traffic Control Non-Radar Approach Procedures 7 week course. Completed the course with a score of 99.9 with only one question missed on a test. Went to the see about applying and was told that I could apply but female and/or minority applicants would be accepted before me.

[Louie Detroit]

Originally Posted by Old Ben

This shit has been going on since the 70s.

I was an Air Force Air Traffic controller in 1974 with 8 years experience. Was selected to attend the FAA Air Traffic Control Non-Radar Approach Procedures 7 week course. Completed the course with a score of 99.9 with only one question missed on a test. Went to the see about applying and was told that I could apply but female and/or minority applicants would be accepted before me.

So what was the outcome?

[Old Ben]

Originally Posted by Louie Detroit

So what was the outcome?

I stayed in the Air Force and retired in 1985.

[09CTSV]

Twice when I was up for E-8 in the Navy, the board had to reconvene because there were not enough minority numbers on the results. I am a firm believe all indications of sex, race, sexual orientation should be removed from any resume. The interview should show no indication of what you are and go nothing but on merit.
Funny how that would work.

[Vette40th]

Originally Posted by 09CTSV

Twice when I was up for E-8 in the Navy, the board had to reconvene because there were not enough minority numbers on the results. I am a firm believe all indications of sex, race, sexual orientation should be removed from any resume. The interview should show no indication of what you are and go nothing but on merit.
Funny how that would work.

Affirmative action.
When I recruited in the late 90s, we were given incentives to find smart(above 50 AFQT) Black, Hispanic, Asian-Pacific Islanders.
When I was asked at a Recruiter conference, some Officers were pissed. They werent part of recruiting. They wanted to know who the fudge was pushing this. DOD, Simple.

[Mick]

Anyone who thinks that Affirmative Action is NOT part of Corporate America, is either ignoring what is right in front of their face, or just plain stupid. I worked for two different public companies where it was expressed openly in our public documents that we were an "Affirmative Action" company, and all hiring and promotion was subject to review on that basis. If, as a straight white male, I didn't like it, I was welcomed to find employment elsewhere.

This shit has been going on for something like a half century, so anyone surprised by it is either really new to the working world, or again, stupid.

Anyone who thinks that making a hiring selection based on race and/or gender is a great idea, is encouraged to explain to my why Kamala Harris was the BEST possible selection in the whole country for the role of VPOTUS. I anxiously await your explanation.

[TheRealBadger]

Originally Posted by Mick

Anyone who thinks that Affirmative Action is NOT part of Corporate America, is either ignoring what is right in front of their face, or just plain stupid. I worked for two different public companies where it was expressed openly in our public documents that we were an "Affirmative Action" company, and all hiring and promotion was subject to review on that basis. If, as a straight white male, I didn't like it, I was welcomed to find employment elsewhere.

This shit has been going on for something like a half century, so anyone surprised by it is either really new to the working world, or again, stupid.

Anyone who thinks that making a hiring selection based on race and/or gender is a great idea, is encouraged to explain to my why Kamala Harris was the BEST possible selection in the whole country for the role of VPOTUS. I anxiously await your explanation.

Well, since affirmative action is required by law if you do business with any government entity, why wouldn’t they state this?

[TheRealBadger]

Originally Posted by Vette40th

Affirmative action.
When I recruited in the late 90s, we were given incentives to find smart(above 50 AFQT) Black, Hispanic, Asian-Pacific Islanders.
When I was asked at a Recruiter conference, some Officers were pissed. They werent part of recruiting. They wanted to know who the fudge was pushing this. DOD, Simple.

So, you actually weren’t asked to lower the standards, just find a more representative population that still meets the standards?

[Aerovette]

Originally Posted by TheRealBadger

Well, since affirmative action is required by law if you do business with any government entity, why wouldn’t they state this?

What?

[TheRealBadger]

Originally Posted by aerovette

What?

Was it not English?

https://www.dol.gov/agencies/ofccp/faqs/AAFAQs