It’s not that they had no assets it’s that they couldn’t liquidate them to pay out their depositors. Sure, if everyone had just waited for the 10 year bonds to

It’s not that they had no assets it’s that they couldn’t liquidate them to pay out their depositors. Sure, if everyone had just waited for the 10 year bonds to mature to access their funds their bank was in perfect shape. —edit— Assuming they could come up with enough money to pay the over market interest rates on deposits while also seeing their money flows reversing because of VC capital drying up.