It seems to me that from what I read, the root cause is that the bank was funded with corporate deposits and deposits from institutional investors, both of whic

It seems to me that from what I read, the root cause is that the bank was funded with corporate deposits and deposits from institutional investors, both of which are known to be volatile in a stress, and treated punitively by the liquidity regulations imposed on larger banks (in fact financial institutions deposits cannot be used to finance anything else than liquid assets). And they funded buy and hold positions of bonds with these deposits, not hedging the interest rate risk. All of which are internal fuckups and none of which I read in this article...