I'm Making a BID for SVB Bank...anyone interested in Joining?

Correct. The main assets are still in play but going this week

Glp could really get out in front of this one...for a change

UPDATE--RESPONSE RECEIVED FROM FDIC RE: SVB BID

Original Email:

Director FDIC:

Please advise the format and process for tendering an offer to the FDIC for the assets of Silicon Valley Bank (SIVB.O).


I was unable to find any specific information on the FDIC website or information in the general or financial media, such as where and to whom any such offers would be directed.


Further, please advise any pre-qualification requirements necessary to tender a bid, if all bids will be considered on an equal basis and if the basis of consideration is being made strictly on greatest financial/value of the total of bids tendered...or if there are non-financial considerations employed in making a final decision.


Relating to the final point above, please take note of the following:


(Source: [link to www.zerohedge.com (secure)]


Kevin Hassett, former Chairman of the Council of Economic Advisers under Trump, told Fox Business that "there were buyers who were willing to step in & buy [SVB, but] the radicals at the @FDICgov basically weren’t going to allow that to happen ... the Biden Admin had a whitelist of companies that were allowed to buy the failed bank & companies that weren’t."

"If this is true," said Grabien founder Tom Elliott, "then this is another Biden scandal."

If this is true, and the WSJ is also reporting it, then this is another Biden scandal. Rather than letting the free market resolve a somewhat ordinary bank collapse, they used the opportunity to nationalize SVB, using tax money to ensure their campaign donors were made whole. USE_REAL_LINKTKtvR0eUQQ

— Tom Elliott (@tomselliott) March 14, 2023


Thank you.

FDIC RESPONSE:

Thank you for your interest in SVB asset acquisition opportunities with the FDIC. We will keep your name and contact information and reach out with more information regarding the marketing process when available.


WOW...Things are heating up now.

Not too late to be a part of financial HISTORY

They haven't reached out yet.

I figured I would give them another few hours and send a follow up email...you know...keep in close touch

Will let you people know when I hear anything back

still no word

I think the FDIC isn't wanting my consortium to participate

I sent a follow up request for a bid package to FDIC this morning but have not yet received the courtesy of a response.

To Whom it may Concern or the Executive in Charge of Liquidating Failed Bank Assets:

Dear Sir, Madam or Other,

I am following up my previous correspondence(s)

Any update as to the SVB asset sale?

The media is reporting that the FDIC may act as soon as this week to make a disposition, and I will need time to conduct due diligence on which to base my offer(s).

Would it be possible to receive at least the documents that other parties have received to date to begin our evaluation?

Thank you