country and around the world up until this past wednesday svb was the go-to lender for tech start-ups with more than 200 billion dollars in assets, the federal reserve board ranked silicon valley bank 16th in its list o america s top 20 biggest banks by friday, it was being take over by the federal deposi insurance corporation, and the biggest banking failure sinc the 2008 financial crisis. the bank was fdic insured, which is good news first of all, they are depositors but that s not enough to kee big tech companies afloat. this morning on cbs face the nation, fed chair janet yellen ruled out the prospect of government bailout let me be clear that during the financial crisis, ther were investors and owners of systemic large banks that were bailed out and we are certainl not looking i, the reforms i
magnitude where it spreads across and locks down the financial system necessitating a government bailout is essentially what happened in 2008. i don t think we re going to get that. pretty sure we re not going to get there. we ll get something not so great. from what i m hearing, this could change essentially when i get off the air with you. no major bank really wants to buy the whole thing. jp morgan, bank of america, both got burned by buying bear-stearns and merrill-lynch respectively during the financial crisis and took on their liabilities, they were greater than anybody thought. they re probably not going to buy the whole thing. you re likely to get piecemeal sales of this thing. that s maybe good. better than nothing, but does not solve the problem of a bank that s kind of out there and with deposits, people need their deposits to be taken out of the bank and it s unclear where those deposits are. i mean, you know, remember, what banks like this do, you
the household energy supplier octopus is to buy its competitor, bulb, the largest energy company to collapse last year, amid soaring wholesale gas and electricity prices. since then, the government has spent billions of pounds keeping bulb afloat but now, octopus has agreed a deal to take on the company s one and a half million customers. our business reporter, ramzan kamali, has the details. the energy market was in disarray this time last year. dozens of firms went bust as energy prices soared. the regulator, ofgem, increased what was then known as the energy price cap. the biggest victim was bulb, put in a special administration, kept going by a huge government bailout. today octopus are confident the takeover of bulb s customers would be a smooth one. octopus has a great track record of bringing large numbers of customers across, for example, when avro fell, it was the largest company
sides of the party divide is that paul pelosi, who is now 82 years old, is expected to make a full recovery, having undergone successful surgery yesterday. the household energy supplier octopus is to buy its competitor, bulb, the largest energy company to collapse last year, amid soaring wholesale gas and electricity prices. since then, the government has spent billions of pounds keeping bulb afloat, but now, octopus has agreed a deal to take on the company s one and a half million customers. our business reporter, ramzan kamali, has the details. the energy market was in disarray this time last year. dozens of firms went bust as energy prices soared. the regulator, ofgem, increased what was then known as the energy price cap. the biggest victim was bulb, put in a special administration, kept going by a huge government bailout. today octopus are confident the takeover of bulb s customers would be smooth. octopus has a great track record of bringing large numbers of customers across, for
the household energy supplier octopus is to buy its competitor bulb the largest energy company to collapse last year, amid soaring wholesale gas and electricity prices. since then, the government has spent billions of pounds keeping bulb afloat. but now, octopus has agreed a deal to take on the company s 1.5 million customers. our business reporter, ramzan kamali, has the details. the energy market was in disarray this time last year, dozens of firms going bust as energy prices soared. the regulator, ofjam, increased regulator, of jam, increased what regulator, ofjam, increased what was then known as the energy price cap, the biggest victim bulb, putting on a special administration, kept going by huge government bailout. today octopus are confident the takeover of bulb s customers would be smooth. . , bulb s customers would be smooth. , ., bulb s customers would be smooth. , smooth. octopus has a good track record smooth. octopus has a good track record of smooth. octopus has a g