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US Silicon Valley Bank Failure, The Largest Bank Collapse Since 2008 Financial Crisis, But UK Media Is Focusing On Gary Lineker

US regulators have taken control of Silicon Valley Bank (SVB) as a liquidity crisis caused to biggest bank failure since the 2008 Crisis.

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The Bank of England said depositors in the UK arm of SVB will be protected up to £85,000 and the US regulators protect depositors up to $250,000.

This will not help firms like Roku which is reported to have had $487 million in SVB.

Here in the UK, the media is concentrating on more far important issues than the failure of America’s 16^th largest bank, Gary Lineker!

The MOTD football presenter, who is paid in excess of £1,000,000 a year for his weekly show, was suspended by the BBC this week after tweeting remarks about the government’s migrant policy. Several other presenters have walked out in sympathy with Lineker wrecking the BBC’s weekend football schedule.

The demise of SVB, which started in 1983 and employs 8500 people, is a sign that higher interest rates and the Fed’s QT policy is starting to bite the economy and that we are not out of the woods.

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