Silicon Valley Bank was not included in the bankruptcy filing in New York on Friday. Also not included in the Chapter 11 process are venture capital company SVB Capital and broker-dealer business SVB Securities, which will remain operational. Trading of the company’s stock\n \n has been halted since Thursday, and a bankruptcy was largely expected.
“The Chapter 11 process will allow SVB Financial Group to preserve value as it evaluates strategic alternatives for its prized businesses and assets, especially SVB Capital and SVB Securities,” said William Kosturos, chief restructuring officer for SVB Financial Group, in a statement. “SVB Capital and SVB Securities continue to operate and serve clients, led by their longstanding and independent leadership teams,” he added. SVB Financial said it had $3.3 billion in unsecured debt and $3.
I would like CNN to at least report on Gavin Newsom's holdings being involved with SVB.
So, they spent the money like drunken sailors, and now want creditor protection? I say sue the hell out of them! Perhaps then they won't have the funds to bribe American politicians to drop banking oversight. Otherwise, they will just skip to their next enterprise.
Play right out of treasonous tRump's playbook!
Higher premiums to taxpayers to cover the cost another Biden Lie to Americans how many failures can one president make this is over 50 since taking office 👎👎👎👎
Let’s face folks America Taxpayers are flipping the bill to bail out billionaires who lost money in bank Scandals, President Trump told us this would happen about Janet Yellen that raising interest rates would cause a collapse so not the middle income people must bailout Rich 👎
The Hong Kong company which wired over $3 million bound for Biden family associates in 2017, appears to have been run by a member of the Chinese Communist Party (CCP) at the time of the transfer, a Daily Caller News Foundation investigation determined.
While the capitalists were fighting communism, with a free trade system, they overlooked that they were creating communism. This happened, because this doesn't define any boundaries, it even fights against them, which inspires insatiable greed = creates extreme centralization.
Have you read headline in the Irish Independ? Shows how the good man Bourke is correct in law. Now sit back and watch how the other partys get scared. Esp. Wilson College who it appears gave false information to the courts. WOW Watch. May the Lord Jesus Christ Bless and Keep them
🤣 'a source that was inside those talks....or close to those talks told us' Which one is it? Such a rubbish outlet
No surprise there
Babylon has fallen! Here is the Prophecy: Silicon Valley Collapse!!! ProphetElvisMbonye
Usually a good business move. No big deal.
Of course they did, then. a white collar criminal's preferred method of choice.
BIG DAMN SURPRISE!!! However, the CEOs & BODs somehow “managed” to dump their stock before the shit hit the fan, didn’t they? 🙄🙄🙄
Bankruptcies are not what they used to be. Now they're actually part of every corperate business model. They're a way for the executives to suck as much money out of a corporation into their own pockets until it's sucked dry and then reorganise for the next feeding.
wobbling EVERYTHING is wobbling -- markets -- world peace -- distribution -------- everything ------ is it intentional ?
HSBC
Hey, just wondering why you are not covering the the money going to the Biden family? You say you cover breaking news🤔
I want to know what Peter Theil roll in all this is. Theil never does anything unless he benefits from it. He got his money out of SVB before the collapse. It is a question that needs to be asked.
No different than the last “Savings and Loan” money laundering scheme by democrats. A lot of the missing bank money ended up in the Clinton campaign and nothing ever came of it, i expect no different now
SVB Securities and SVB Capital 's funds and general partner entities are not included in the Chapter 11 filing , the company said Friday .
So they get a bailout AND can still file bankruptcy. Both things that are not happening for students buried in debt. Thanks, Joe Biden!
CNNs lies about Russia , Ukraine & Trump , Phone calls & Trump Daniels & Trump COMING indictments to Trump (where are they) yet covering up Biden selling out America to Russia , China , Ukraine , Romania Turkey & God only knows who else. Attacking Trump at least 15 times a day
US banks will collapse in chain reaction
The group is filing for bankruptcy just a week after Silicon Valley Bank was shut down .
The latest twist for a business that once sat at the heart of the U.S. tech startup scene .
Another domino 👀
How much longer before CNN does the same?
The group says it has $2.2bn in liquidity .
well, of course they did… a favorite choice for the perpetrator of white collar crime.
It's pretty simple to illustrate and understand the story of the cat, the ata, the tag, and what people can learn from them. Another pairs of glasses for Joe, nice the Ray Banks
That high ESG score helped. Get woke go broke
FireLouisDeJoy
LOL diversity equity!
Because of course they have.
Get woke, go broke
Woke go broke...
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