The bank is insolvent, the assets are presently valued below deposits. This will happen eventually in that situation, to blame the catalyst is being disingenuo

The bank is insolvent, the assets are presently valued below deposits. This will happen eventually in that situation, to blame the catalyst is being disingenuous. The catalyst could've been anyone, and even in the current case it might not be Thiel - it could have been someone who did it first who then told Thiel. Water can stay liquid below freezing, but it need just one shake to fully freeze over, and it's not the shakes fault that the water is now frozen.