UK's PM Sunak: Our banks are well capitalized and liquidity is abundant

I do hope SVB ain't going to snowball into something we see of 2008, though signs are pointing in that direction. The more politicians tries to calm the market, the more market is going to panic.

Buy the rumor and sell the facts - or sell the rumor and buy the facts. Like what happened this morning.

If only politicians are as pro-active in their current actions for nurses, teachers etc....

Basically SVB was under capitalised and could not carry the higher market interested rates. So a distressed asset more than a financial 'black hole'. The UK subsidiary and client accounts now with HSBC. So could actually be a bargain acquisition - all those potential next FANGs or a nascent ARM somewhere in the mix.