Come deposit with us…
Silicon Valley Bank is reportedly now marketing itself as the, ‘single safest place to keep or transfer your deposits.’ The new CEO is reported to have said, ‘There is no safer place in the U.S. banking system to put your deposits.’
WOW! That didn’t take long – moving a bank from unsafe to the safest in less than a week. Things have move quickly.
And get this…
The British arm of Silicon Valley Bank (SVB UK) is reported to have paid out millions in banker bonuses just days after its insolvency was averted through a Bank of England and UK treasury rescue deal.
Also, bonuses were paid to its U.S. staff just hours before the bank collapsed, according to reports last week.
Really…
You just can’t make this stuff up! The self inflicted over induced easy money just keeps flowing. Didn’t all this ‘free’ money cause the problem in the first place?
Just keep the money rolling in please.