, Columnist
SVB Pay Clawbacks Are Just. Now Try Collecting the Money.
Senators hurled insults at the failed bank’s ex-CEO, but financial penalties are unlikely.
Greg Becker, Silicon Valley Bank’s former CEO, gets it from all sides in Washington
Photographer: Al Drago/Bloomberg
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Greg Becker had no friends on Capitol Hill last week. The failed chief executive officer of the former Silicon Valley Bank took a bipartisan battering from the Senate Committee on Banking, Housing and Urban Affairs. And rightly so.
Becker and Signature Bank Chairman Scott Shay, who was also before the committee, should pay for leading their banks into disaster. The fear is that authorities don’t have the powers or the will to impose financial penalties. Where are the clawbacks? It’s a familiar refrain that has failed to become reality.