HSBC pays 1 to rescue UK arm of Silicon Valley Bank after all-night talks

[ancianita]

1. HSBC, huh.

A shady bank, imo. I'd call them the Wells Fargo of the UK -- huge, and won't abide banking regulations, repeatedly fined for money laundering, sometimes in connection to criminal organizations such as the Sinaloa cartel, or setting up large scale tax avoidance schemes. "Asset management," they call it.

Hilarious that it says customers are "safe in the knowledge that their deposits are backed by the strength, safety and security of HSBC.”