Editor's Note: Shocking revelations this week... it looks like SVB wasn't just fatally mismanaged, but executives at the bank actually profited off its collapse. When our friend Joel Litman sent us the note below, we knew we had to share it with you right away. Joel's no stranger to scandal, having blown the whistle on dozens of Wall Street firms before they collapsed. Now, Joel's warning these revelations are just a taste of what's to come... including more wipeouts in the weeks ahead...
Shocking SVB Confessions Congress is investigating this spring's bank collapses – and what they've just learned has lawmakers spitting mad. On March 9, panicked customers of SVB pulled $42 billion from the bank within 10 hours. That's crazy money – almost $1 million every second. By the next day, SVB was broke, and the government stepped in. Now, it's been revealed SVB's CEO Greg Becker was paying bonuses to the executive team just hours before regulators seized the bank. And on February 27, Becker sold $3.6 million in SVB stock – clearly trying to protect himself before the bank collapsed. You think Becker is embarrassed by these revelations? Hardly. Instead of taking responsibility, he blamed interest rates and negative media coverage for the bank's failure – and then had the chutzpah to tell Congress he refused to give up his $10 million salary. One disgusted lawmaker commented, "Only in corporate boardrooms can you run your business into the ground, take the whole economy along with you, and come out ahead." I agree, it's disgusting – and unfortunately, I'm not surprised. Wall Street hides a lot of dirty business... which most of us only hear about once something hits the news. And if you wait for the media to tell you anything important, you WILL get blindsided by the next round of wipeouts I expect to hit in the next few weeks. Does Wall Street know about this? Of course. I doubt they've told Congress... They certainly haven't told you. But here's what you really need to know before it's too late. Regards, Joel Litman
Chief Investment Strategist, Altimetry P.S. Do you remember WeWork? A few years ago, everybody thought the company was a unicorn... but it's become one of the biggest business disasters of the last decade – marked by repeat failure, scandal, and one of the worst IPOs ever. Well as of this week, the company's on its 3rd CEO. You might remember the first guy screwed things up so bad, investors paid him $1.7 billion (not a typo) to make him resign. The stock's tumbled 79% this year alone... But here's the kicker: In 2016 – three years before WeWork tried to go public – the company's actual earnings were NEGATIVE 10%! How could you have known? WeWork had just been crowned one of Fast Company's 50 Most Innovative Companies! It's outrageous. If people could've seen WeWork's true potential from the beginning, they NEVER would've bought the hype... and that's the point. Fact is, my system could've shown you the truth, as soon as WeWork started releasing its financials. And my system's just spotted another stock doomed for massive losses – 80% or more starting in the next few weeks. Go here to get its name and ticker (completely free). | 
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