Silicon Valley Bank UK Sold to HSBC for £1
In the News
SVB UK: www.svb.com/uk
People are saying "Why didn't FDIC just take care of it?" (FDIC is the same as FSCS) because they can only cover so much before they hit their limit.
We hear a lot "Your money is FDIC/FSCS/CDIC insured" and that makes us feel our money is safe and secure, except if multiple banks collapse then there's a very big problem.
FDIC (US), CDIC (CA), FSCS (UK)... They're all more or less the same for the better or worse. At least it's not an EMI (like Revolut).
Maybe they should reduce bankers bonuses and focus on ensuring they have secure finances instead.
Imnotcheap They paid bonuses hours before going under. It's ridiculous, but at least taxpayers didn't have to pick up the bill this time. I really don't understand why people need billions, when kids are starving and working people can't afford the basics. The whole system is 
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