SVB was clearly vulnerable. It had a concentrated portfolio of venture industry customers many of whom were required to deposit exclusively with itself and wer

SVB was clearly vulnerable. It had a concentrated portfolio of venture industry customers many of whom were required to deposit exclusively with itself and were therefore well over the FDIC insurance limit, and its curiously structured asset portfolio had taken a major hit with the change in interest rates. They were not healthy. With a condition so marginal, of course there will be people insisting that they could have made it through if nobody flinched and people insisting that their collapse was just waiting for a strong gust of wind. The difference of opinion is why people were still both buying and selling their stock until it was delisted. That’s how markets work. But at this point, it already happened. The only reason to make a case like this (and those with opposing perspectives) is for influential people to jockey against each other, trying to smear people who they compete with for deals. We don’t need to participate in their soap opera. There’s plenty more practical to talk about now.