Silicon Valley Bank’s former CEO, Gregory Becker, testified before the U.S. Senate Banking Committee (starting at 18:55). As the New York Times reported, Becker “pointed the finger at pretty much everybody but himself.”

Becker blamed the bank’s demise on regulators for failing to manage inflation and interest rates, the media for raising questions about the bank’s financials, and depositers for withdrawing money in a panic. Critics blame SVB management for the high percentage of uninsured deposits, the lack of client diversification, and the lack of liquidity because of overinvestment in long-term bonds and other government securities.

In his opening statement, Becker gave a nonapology; he didn’t acknowledge any wrongdoing. Notice the subject of the following sentence and the pronoun reference for “this”:

"The takeover of SVB has been personally and professionally devastating, and I am truly sorry for how this has impacted SVB’s employees, clients and shareholders."

In other words, he apologizes for how the takeover—the regulators’ actions—affected people. The Wall Street Journal ran this headline: “'I'm Truly Sorry': Former Silicon Valley Bank CEO Apologizes for Failure.” But he didn’t apologize for his failure.

The word of the day—and of the past three years—is “unprecendented,” which Becker used three times in his 5.5-minute speech. His strategy was to persuade senators that the failure was out of his control. In his written statement, we see “unprecendented” six times.

Senators were unforgiving, and we’re left to wonder whether they would have been more sympathetic if Becker had taken any responsibility for the damage. A CNN article reported harsh critism from both Republicans and Democrats, with one saying, “It sounds a lot like my dog ate my homework.”

Becker’s testimony is a good example for students to see a lack of accountability and humility, or learning from mistakes. He uses crisis communication strategies, such as distancing himself from the failure, but his testimony didn’t reflect well on the bank or on himself.