Which was CAUSED by deregulation and knowing that you aren't being watched. Exactly like when trump removed the break regulations for trains. When you deregulate the economy and make it easier for corporations to cheat the what the hell do you expect to happen seriously?
Yes, it's managed by a some novices who made a burner account in 2013, not a superior intellect with a join data of 2/3/2000
Newsom is a scumbag but most millionaires keep their money in a bank? Why would a California governor not keep his money in a regional California bank? I'm not getting it? Newsom is a rich guy. Rich people don't keep their money under the pillow.
Im pretty sure if DeSantis or Trump's bank failed and it was rescued on their watch, Im pretty sure your head would be filled with plenty of conspiracy theories.
Yea not really. Newsom has nothing to do with the FDIC. Its lazy at best, and more likely just downright stupid.
Could the big guy re-regulate the trains or banks when he took over? I recall him reversing tons of policies on Day 1.
Sigh. Again the bank did NOT get bailed out. The stock fell 60% and bondholders got wiped out. You can keep spinning whatever low iq garbage you want but it doesn't change from facts. Depositors have always been made whole as of late. There was a private bank bailout of a banking problem. When an insurance claim kicks in its not a bailout. You paid for the damn insurance.
Unfortunately you need congress to change regulations and that means 60 votes in the senate. The things he reversed on day 1 were EXECUTIVE ORDERS trump had done. We have corrupt Democrats senators as well unfortunately. Mark Warner from VA is a billionaire and a wall street boot licker. It's always tough to Re regulate something once it gets deregulated unfortunately.... Dems only passed the regulations in the aftermath of the worst recession in decades and were pressured to do something. That peer pressure doesn't exist no more. Why would we regulate when people can blame woke culture war garbage instead of greed my execs?
HSBC found value and opportunity, and bought the UK arm of SVB for a symbolic 1 pound. HSBC acquires Silicon Valley Bank UK Limited Strategic acquisition to strengthen HSBC’s banking franchise in UK HSBC Holdings plc announces that its UK ring-fenced subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Limited (SVB UK) for £1. As at 10 March 2023, SVB UK had loans of around £5.5bn and deposits of around £6.7bn. For the financial year ending 31 December 2022, SVB UK recorded a profit before tax of £88m. SVB UK’s tangible equity is expected to be around £1.4bn. Final calculation of the gain arising from the acquisition will be provided in due course. The assets and liabilities of the parent companies of SVB UK are excluded from the transaction. The transaction completes immediately. The acquisition will be funded from existing resources. Noel Quinn, HSBC Group CEO, said, “This acquisition makes excellent strategic sense for our business in the UK. It strengthens our commercial banking franchise and enhances our ability to serve innovative and fast-growing firms, including in the technology and life-science sectors, in the UK and internationally. “We welcome SVB UK’s customers to HSBC and look forward to helping them grow in the UK and around the world. SVB UK customers can continue to bank as usual, safe in the knowledge that their deposits are backed by the strength, safety and security of HSBC. We warmly welcome SVB UK colleagues to HSBC, we are excited to start working with them.” HSBC will update shareholders on the acquisition at its 1Q 2023 results on 2 May 2023.
@AroundTheWorld knows what he's positing is elementary school culture war garbage that's not true but it doesn't matter. Even the educated professional Republicans will always scoop to low level culture war trash cuz it's too appealing to "own the libs." The republican party is incapable of governoring. Their base has their brains rotten to the core. Jesus christ biden literally saved an economic disaster. Jesus
Yes no one should trust anything Tucker Carlson “reports”. Also BLM or ESG have nothing to do with interest rates which appears to be the primary problem behind SVB’s failure. This would be like blaming the bank run on JD Vance because Peter Thiel donated a lot to him. And also yes letting the depositors lose their money would be bad and likely lead to a far larger crisis.
