Deal of a lifetime: would you pay $1.22 for a business worth $1.7 billion???

It's Wednesday, March 15, 2023, and the banking crisis has crossed the pond, after three U.S. banks, including the #2 &#3 biggest bank collapses in U.S.history, in the last week.  Now Credit Suisse in Europe is on the ropes, gasping for air.  

It has been widely reported, including this report on CNBC, that London-based bank HSBC bought Silicon Valley Bank U.K., for the sum of...get this... one British Pound, or about $1.22, if you round up.  This deal allows the deposits of U.K. depositors of the bank to get their deposits covered, so they won't lose money.  The equity in Silicon Valley Bank has been reported to be about 1.4 billion pounds, or $1.7 billion U.S.  Not a bad deal, $1.22 for a business with $1.7 billion in equity.  The madness continues...

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