The collapse of the UK branch of Silicon Valley Bank is being mitigated by the Treasury and Bank of England, according to the Treasury.the country's 16th largest bank, in the biggest collapse of a financial institution since the 2008 financial crisis.
Despite this failure, the finance ministry said Britain's banking system remained strong and resilient, adding that the issues affecting SVB were specific to it and did not have implications for other banks operating in the UK.In a bid for government intervention, more than 250 tech company chief executives signed a letter addressed to Chancellor Jeremy Hunt.
Here we go again ! Another Bank collapse that will end up US in Uk bailing out the investors (who have earned £ million and flew off somewhere) to save the “tech” companies from going under, watch this space more £££s of you money will get thrown at this …like “WE” did with RBS
Capitalist Tory Government clearly fail to understand economic theory. Profits are the reward for risk. If a tech startup fails, someone picks it up at a bargain price & business as usual. Business should never receive a penny of taxpayer's money.
Mitigated!
🤔
Disgusting. If they’ve pushed too far let the fuckers fall. 2008 all over again. Greed with no repercussions.
Socialism for the rich, cold hard capitalism for the rest of us. Bailouts and subsidies galore for banks whenever they need it or even just feel like it.
Gotta prop the Net Zero companies up using tax payer money I suppose.
BAILOUT PARTY!!!
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