> Well it looks that weakening profitability in 2022 as the tech world made SVB do something really dumb. In the first quarter, it unwound $5bn of AFS hedges to book a $204mn gain, and in the second quarter it dumped another $6bn of hedges to lock in a $313mn gain.
I am not a business person, but "making the quarter look good at long term expense" seems to be where bad things happen, almost like it totally breaks the incentive system.
I am not a business person, but "making the quarter look good at long term expense" seems to be where bad things happen, almost like it totally breaks the incentive system.