The former CEO of Silicon Valley Bank receives severe criticism “from the inside”. Greg Becker about how he let the bank fall into ruin.

A Silicon Valley Bank employee, who asked to remain anonymous to speak candidly, was stunned by how Becker publicly acknowledged the extent of the bank’s financial problems before resorting to the necessary economic support to escape the “storm”. This created the scenes of panic with customers trying to withdraw their money from the institution.

“It was absolutely stupid,” the employee, who works in asset management at Silicon Valley Bank, told CNN in an interview. “They were very transparent. It’s the exact opposite of what you’d normally see in a scandal. But their openness and honesty made it happen.”

“People (employees) are just shocked at how stupid the CEO is,” the Silicon Valley Bank executive said.

“You’ve been in business for 40 years and you tell me you can’t raise money 2 billion dollars by private channels? Get on a jet and fly to Kuwait like everyone else and give them control of 1/3 of the bank,” he added.

Silicon Valley Bank did not respond to CNN’s requests for comment, but Becker did reportedly apologized by the officials about the situation. “It is with an incredibly heavy heart that I am here to deliver this message,” Becker said in a video message to staff on Friday, according to Reuters. “I can’t imagine what goes through your mind as you wonder about your job, your future.”