Auction process is reportedly underway to find a buyer for Silicon Valley Bank

CNBC ^ | 3/12/2023 | Jesse Pound

[Mariner]

The ONLY healthy thing to do is for the government to look the other way and let the chips fall where they may.

When rates were <2% these institutions sucked up the free money...and locked it in.

Even RETARDS could see inflation on the rise and impending major rate increases.

Now the bulk of their “assets” are worth pennies on the dollar and they’re all in the red.

All of them.

BofA, Citi, Wells Fargo...everyone. It’s the secret nobody wants out. A thorough audit that prices their “assets” at market rate would send every one of our banking institutions to the graveyard.

The IRONY is that is was the “free money” that saved them last time. Now it has proven to be POISON.

[SunkenCiv]

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• Here's what could happen next for Silicon Valley Bank customers (FDIC's systemic risk exception to backstop the uninsured deposits) [03/12/2023]
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• Opinion: The overlooked reason reparations make sense in California and elsewhere [03/12/2023]
• 2024 is coming. Biden has begun throwing his supporters under the bus [03/12/2023]
• Democrat senator rails against 'multi-millionaires' despite large wealth and campaign-funded fine dining [03/11/2023]

[Pete from Shawnee Mission]

Musk is open to idea of buying SV Bank

[j.havenfarm]

I’m not in banking, but I would imagine that banks which are looking to expand are ready for this contingency. All the beautiful people loved SVB, and under other circumstances the goodwill associated with its name would have some significant value in the auction market. I wonder if that’s the case here, or if the brand is too damaged to continue using

[j.havenfarm]

I’m not in banking, but I would imagine that banks which are looking to expand are ready for this contingency. All the beautiful people loved SVB, and under other circumstances the goodwill associated with its name would have some significant value in the auction market. I wonder if that’s the case here, or if the brand is too damaged to continue using

[linMcHlp]

SVB mission:

https://events.svb.com/climatetechreport1

A piece of that:

The Earth is warming. Governments, companies and entrepreneurs across the globe are advancing toward real change to achieve net zero.

Investments in climate technology solutions are rising rapidly. US VC investment in climate tech companies increased 80% between 2020 and 2021, reaching $56B; energy and power experienced the fasted growth with an 180% increase year over year.

Register to participate in an important discussion about climate technology and its role in driving radical change for a better tomorrow.

The webinar will be hosted by Kelly Belcher, Managing Director of Climate Technology and Sustainability at SVB and co-author of SVB’s Future of Climate Tech report.

[CFW]

Is this where they starting screaming, “However, anyone except Elon Musk?”

[Political Junkie Too]

I bid 10 quatloos!

-PJ

[SauronOfMordor]

The bank was making lots of loans to “underrepresented minority” entrepreneurs.

Much like the 2008 debacle was caused by sub-prime mortgages made to minorities.

To prevent ongoing moral hazard, such wokeness needs to be made very painful (for the woke, not the taxpayers)

[shadowlands1960]

I think Elon Musk might buy it...

[volunbeer]

Warm and fuzzy feelings about a name get erased if you have millions in a bank and are worried about recovering it.

My grandfather, God rest his soul, was an old mountain man who hardscrabbled his way through the Great Depression. He told me that “your money is safer in a mattress than a bank”.

The older I get the more I reflect on his wisdom about many things, but this was always a bridge too far for me, but after 2008 and now looking at this as well as the stellar list of brilliant people in charge of such things, maybe he was right.....

This will be the problem with “digital currency” because eventually there will be a woke leftist Ivy-league idiot consumed with “ESG or DEI” playing with “your money” so that he/she/it can pull a big bonus.

[volunbeer]

Kelly Belcher, Managing Director of Climate Technology and Sustainability at SVB and co-author of SVB’s Future of Climate Tech report.

---

Perhaps they should have spent her/his/him/she/he or whatever the pronouns salary on an actual investment type with a proven track record of success and good money management because from where I sit this looks like a wildfire and we all know those are not good for the environment.

[rainee]

I’m not in banking, but I would imagine that banks which are looking to expand are ready for this contingency. All the beautiful people loved SVB, and under other circumstances the goodwill associated with its name would have some significant value in the auction market. I wonder if that’s the case here, or if the brand is too damaged to continue using

**I just read JP Morgan & HSBC looking to buy so yes, buyers are out there..

[9YearLurker]

I presume any real bids will be in the negative, however much all parties involved will try to cover it up.