Confessions of a Former SVB Executive
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Confessions of a Former SVB Executive
The firm was making bigger bets than it would ever be good for and nobody in the executive office seemed to understand or care. To criticize the firm’s direction was to be branded a traitor and tossed out the door.
Andrew Ross Sorkin • Too Big to Fail: The Inside Story of How Wall Street and Washington Fought to Save the FinancialSystem--and Themselves
The market took Whitney's skeptical argument and ran with it. On the first day of trading after her report, Citigroup's shares tanked. Four days later, Citigroup Chief Executive Officer Charles Prince resigned. In January, Citigroup slashed its dividend and set out to raise more capital.
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Michael Lewis • Going Infinite: The Rise and Fall of a New Tycoon
confess some part of me thought, If only I’d stuck around, this is the sort of catastrophe I might have created. The characters at the center of Citigroup’s mess were the very same people I’d worked with at Salomon Brothers; a few of them had been in my Salomon Brothers training class. At some point I couldn’t contain myself: I called Meredith Whit
... See moreMichael Lewis • The Big Short: Inside the Doomsday Machine
The board likely shares half of the blame, speculates Steve Blank, an adjunct professor of entrepreneurship at Stanford University. “Where were they?” he asks. “It seems like a toxic combination of a board not paying attention and a first-time founder in crisis.”