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
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.
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..