Since I hear a lot of people calling out the Fed, Let’s be perfectly clear about who is to blame. SVB chose to invest in 10-year duration MBS that was yielding

Since I hear a lot of people calling out the Fed, Let’s be perfectly clear about who is to blame. SVB chose to invest in 10-year duration MBS that was yielding only 1.5% when higher rates were known to be just around the corner. The risk/reward in no way made sense. Simple incompetence and/or greed.