Wrong. They bought long term treasuries. Why? Who knows. Any entry-level CFO/CRO knows they should've done either of: - <=2y treasuries - some kind of

Wrong. They bought long term treasuries. Why? Who knows. Any entry-level CFO/CRO knows they should've done either of: - <=2y treasuries - some kind of money market account at a larger institution - or at the very least get a rate swap to cover for rate hikes None of that was done. CEO was at SF Fed board. CRO was ex NY Fed. They know this. Why did this happen?