SVB has an attractive franchise and customer base. Their liquidity management sucked, however.
I bet, as we sit here, several banks have flown in to California their M&A SWAT teams. The FDIC has prolly assembled DealBooks for their review, and may offer a first-loss backstop to sweeten the deal. Further, these banks’ Boards are on standby, ready to approve Term Sheets.
By next week, I bet SVB will have a new owner, their c-suite will be unemployed, depositors and most other creditors will be made whole, and we will return our focus to Bidet being an idiot.
Nobody does finance as well as America.
12 posted on 3/11/2023, 10:44:17 AM by DoodleBob
Amazing stuff here! Covid vaxs were all a DOD op. Good evidence here,hard to imagine this got out.