<story><title>Silicon Valley Bank paid out bonuses hours before seizure</title><url>https://www.axios.com/2023/03/11/silicon-valley-bank-paid-bonuses-fdic</url></story><parent_chain><item><author>ryukoposting</author><text>To people who don&amp;#x27;t work in finance, maybe it seems reasonable to take away bonuses from employees at a failing bank. It sounds crazy to me. My finance friends are in PE, not banking, but they do soul-crushing work for grueling hours specifically because of that end-of-year bonus.</text></item></parent_chain><comment><author>YPCrumble</author><text>This is literally showing how parasitic these organizations are. Bankers think that banks exist to make themselves a lot of money, not to serve customers.&lt;p&gt;This is why organizations like SVB need to fail without any kind of bailout and executives need to go to prison for paying out bonuses if they paid them out knowing they couldn’t meet their fiduciary responsibility to customers.</text></comment>
<story><title>Silicon Valley Bank paid out bonuses hours before seizure</title><url>https://www.axios.com/2023/03/11/silicon-valley-bank-paid-bonuses-fdic</url></story><parent_chain><item><author>ryukoposting</author><text>To people who don&amp;#x27;t work in finance, maybe it seems reasonable to take away bonuses from employees at a failing bank. It sounds crazy to me. My finance friends are in PE, not banking, but they do soul-crushing work for grueling hours specifically because of that end-of-year bonus.</text></item></parent_chain><comment><author>coldtea</author><text>Yeah, unlike those people working on third party companies depending on the bank for their salaries...&lt;p&gt;I mean, who works harder and needs the money more, a finance executive waiting for their bonus, or a single mother of two working two jobs, one of which happened to be in a company depending on this bank for its salary payments?&lt;p&gt;Obvioysly the former!</text></comment>