CNN anchor Poppy Harlow speaks with Ben Kaufman, CEO & co-founder of Camp, a toy company that got caught up in the collapse of Silicon Valley Bank and is asking customers for help to keep it afloat. #CNN #News
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And SVB tried to turn to all their customers and their customers turned on them
Lets throw the banksters in prison.
Thank you for your response.
Depending on the type of corp, the bank is responsible not the owners of it. Take some biz classes.
I think not – joe Biden
“I no longer listen to what people say. I look at what they do. Because behavior doesn’t lie.”
~ Sir Winston Churchill ✨️
Thank you for your response.😀
We need to be united and work together to get through this.
Thank you for your response.
United in what? Money? 🤣🤣🤣🤣🤣🤣🤔🤔 WHAT EVEN IS MONEY???🤣🤣🤣
There were a lot of start-ups that were funded by SVB, hope they make payroll, and can survive
i thought they were getting a bail out?
FYI, the CEO cashed out millions 3 days before the collapse???? 🤔
He will have to cough it up when the regulators finish with him. He must come from. LEHMANN Bros or AIG.
There is no way this is legal.
This time, the government is protecting the depositors, but it’s not bailing out the bankers and investors. The bank’s assets are still being sold and liquidated, and will be used to payoff the deposit money and other creditors.
Finally someone gets bailing out a bank versus bailing out the bankers (management, board of directors & shareholders)!
Banks pay their FDIC dues for exactly this reason anyway.
Shame. Should have let it all implode.
It’s irresponsible to bailout the banks. Our banks must be accountable for their own risky business.
Thank you for your response.
It looks like it’s saving those who were banking with them rather than the bank itself. I don’t see that as bad
Animated, you would not be saying that if your money was at risk…
We need to create a debtor prison for bankers until they pay all the taxpayers back for the bailouts.
Thank you for your response.😀
Oh I like that idea. Make them uncomfortable.
Taxpayers aren’t bailing out this bank .. but all the other banks who contribute to the insurance fund to cover a crash don’t like it when SVB actually claim the $$$$
Bankers do risky stuff with OPM, resist regulation, give each other bonuses even when they fail, do not suffer any consequences and then … do it all over again. Yeah Capitalism!
I remember the days when businesses kept enough cash around that they wouldn’t have to go out of business if they lose five bucks. Now nothing is solvent after fifteen minutes.
15 minutes after the people running them buy houses and cars and feed themselves from the trough.
Are you 100 years old? NO business keeps enough PHYSICAL cash to operate for any significant time and they have not for a hell of a long time – they put the money in a bank – that was the cash reserve.
@Pat Doyle And who was to blame when it was Covid, which bank? Having to close for short periods closed millions of businesses during covid. That had zero to do with banking. The reason isn’t even important really, if your business dies that quickly you were doing something wrong. Its idiotic to say otherwise. Listen to the guy go on about how hard it all is. All this is hard, now I have to think about my bank too, but its hard.
Here’s the thing, this should never have happened in the first place, and the government or whoever is going to be bailing out those customers that have lost all their money and not the bank this time. So the bank gets screwed and more regulations to the Banks and the customers to those Banks get what they need.
Love how you guys made a “feel good” segment out of the public saving a toy store after extensive governmental deregulation on finance manipulation.
Fills my heart with….. no surprise.
What?
@Vera Mae Banks do bad things, say sorry, people save toy store. Bank heads never held responsible. System repeats. Businesses close.
News makes story with happy ending.
A small town grocery store near me burned down. The owner (only grocery store in town) didn’t want to pack up and leave. So he sold “bonds” locally, to his customers. That gave him enough money to rebuild. And the bond holders were able to use their investment as if they’d pre pair for their groceries. Which they had.
Not over, Bank runs are a citizens duty. Take you monies out put in a tier 1 bank and watch the 🔥
seems illegal / unethical to require anyone to put all their cash into a particular bank if they are going to get a loan from them.
I got one of those e-mails from Camp, but I don’t remember ever doing business with them.
Loved how Don Lemon got roasted at the Oscars!
Store owner seems like a great person. If I were his customer I’d help and buy something too.
So, the treasury department has promised to cover 100% of all deposits. But the bank wasn’t all that bad in trouble. The US will sell it to another institution, likely a british institution that’s captial heavyl as most are. This will be taken care of fast by this administration.