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FLASH: about 3:00 a.m. EDT Monday re: SVB-UK

HSBC has just purchased SVB-UK for..... ONE POUND. Facilitated by the B of E. Could not believe my eyes and ears.

Comments

  • UK prime minister announced on last Sunday that there will be NO bailout. There were few banks are interested to inherit the liabilities. Wonder if this is the high bid from an auction?
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