Bill’s commentary:
“A thinking person might ask now that it was sold for $1 (Mortimer), what was it valued at on the books last week?”
LONDON — Silicon Valley Bank UK is being acquired by HSBC in a £1 deal that will protect deposits, the United Kingdom’s chancellor and HSBC said on Monday.
“This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC,” Chancellor of the Exchequer Jeremy Hunt said on Twitter. “Deposits will be protected, with no taxpayer support.”
Bill’s commentary:
“Gold nor silver can go bankrupt…the end.”
‘No asset is safe now. The only choice to hedge risks is to hold hard currency, as in gold.’ Zhang Jianhua, Peoples Bank of China.
Bill’s commentary:
“He’s got that right!”
Bill’s commentary:
“Interesting link?”
Please file this under ‘you just can’t make this stuff up: Joseph Gentile who has served as Chief Administrative Officer at the recently caput Silicon Valley Bank since 2007 was, prior to joining SVP, CFO for Lehman Brothers’ Global Investment Bank, Fixed Income Division.
Just because SVB and Lehman collapsed where he was a leading player doesn’t necessarily make this man the ‘harbinger’ of doom. Perhaps this is just a guy that you wouldn’t want to have wish you ‘luck’. Perhaps…
BillHolter.com 