All banks are under control of the state via bank regulators. And those bank execs just lost their jobs when the banks stopped existing, so you got that.
There is no sensible reason to want the state to own every bank; that means you're accepting a silly amount of risk and not diversifying your investments. What you want is a social wealth fund, not owning a random industry you don't like.
>> And those bank execs just lost their jobs when the banks stopped existing, so you got that.
SVB’s CFO was previously the CFO at Lehman, so whether he still has his job today seems to have no impact on whether the revolving door will continue to open for him or anyone else there.
Eh, this is just that story about the engineer who makes a big expensive mistake and his boss who refuses to fire him because he just got expensively trained to not do it again.
There is no sensible reason to want the state to own every bank; that means you're accepting a silly amount of risk and not diversifying your investments. What you want is a social wealth fund, not owning a random industry you don't like.