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...an extent, I’m not going to accept massive damage to the US economic machine,’” Luckey says....
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...That would have helped bridge the roughly $1.8bn in losses SVB incurred from the sale of about $21bn of securities initiated to cover customers withdrawing deposits....
...That was my motivation, which wasn’t really an economic motivation, and it wasn’t really a motivation driven by proper analysis of security. But here we are, you know, now, 30 years later....
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...Securities and Exchange Commission chair Gary Gensler vowed on Sunday to “investigate and bring enforcement actions” in the event of violations of federal securities law....
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