HSBC rescues SVB’s UK unit; situation shows how systems interlinked; Biden stirs blame game (1)

CarrZee Opinion: The decline of SVB shows how regulators and the media need to join the dots — in this case between surging interest rates, collapsing tech valuations, fast-moving capital and credit ratings agencies …in a bid to protect investors and young companies.

Some of the new companies in need of protection will help solve the climate crisis.

The sale to HSBC of an SVB unit over a single weekend seems like impressively swift regulation – let’s hope there is enough transparency to assess whether the deals being struck are fair to the various parties. Crises are often used as an excuse for bad behavior.

For one, it may be premature to level demand as President Biden just did:

See this

And this

This BBC podcast includes a good overview with the FT

Source: Guardian

I love this snip from the FT’s feature on SVB today in the newspaper edition …shows the story is partly about short-term greed and a ratings agency that actually spotted it (but too late)….oh and Goldman Sachs.

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