Ah, SPACs, we barely knew thee.
The link, from 2021, covers how SVB looked at SPACs.
"The IPO process has seen little innovation, and for some companies thinking about going public, SPACs can provide useful tools to raise capital quicker and with fewer hurdles based on current market conditions.
From our perspective, it is advantageous to have capital flow options and innovation in fundraising with new or revised approaches, especially in a time of huge demand for new solutions to address global challenges."
Good times 🙄
#SVB #SVBFail #CreditSuisse #FirstRepublic
First Republic, which continues to say that it has enough liquidity, is being advised by JP Morgan on "strategic alternatives" 👇🏾
Some analysts believe that First Republic Bank must raise funds or sell itself because it would have suffered, according to them, similar losses to Silicon Valley Bank.
It must be nice to have a business model that emphasizes "growth at all costs" and "disrupting" verticals with easy access to VC and investor 💵s but never having to become profitable.
The VC model is broken.
This, by, @molly0xfff is brilliant 👇🏾
She calls out the massive dip 💩s
S&cks & C&l&c&nis for their blatant hypocrisy
https://newsletter.mollywhite.net/p/the-venture-capitalists-dilemma
UBS Agrees to Buy Credit Suisse for More Than $3 Billion👇🏾
$2 Billion is *much closer to the $9.5 billion friday close of business valuation than $1 Billion. This place should have been sold for parts years ago.
UBS makes $1 billion all-share offer for embattled Credit Suisse 👇🏾
Credit Suisse is a penny stock
15 years ago, in a deal coordinated by ministers, the Swiss National Bank and federal banking commission, the Swiss government effectively pumped $60bn into UBS, taking virtually the last $50bn of its toxic assets into a special purpose vehicle off its books and owned by the SNB. Today, they are urging UBS to explore an acquisition of all or parts of Credit Suisse Group AG after Credit Suisse pummeled by a "crisis of confidence" aka multiple scandals including mismanagement of funds, the bank closed the 2022 fiscal year with a loss of nearly $8 billion, its biggest loss since the 2008 global financial crisis, preventing money laundering among others.
15 years is apparently how long it takes for history to be forgotten.
Lobbying by the financial industry plays a huge part in why regulation and supervision of the largest financial institutions in the United States and around the world is extremely insufficient.
https://finance.yahoo.com/news/ubs-explore-credit-suisse-deal-231127876.html
Public Bank East Bay
Alaric Aloor🐕🏎⚽️🥃
The Polybius Kat 🏳️⚧️
