In the finance committee we were often pushing back on ideas to use deposits, to invest deposits in a more aggressive manner. Let me just put it that way.
SVB invested heavily in long-term bonds that offered slightly higher yields instead of safer short-term options, seeking a better return on investment from their deposits.
After Hardymon retired from SVB's board, he gifted the painting as a reminder of his cautions against aggressive yield chasing, a practice that contributed to the bank's downfall.
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