So the big problem was the Fed increasing rates quite dramatically, signaling this, and the banks not properly having a t-bill ladder (ie, buying a mix of short

So the big problem was the Fed increasing rates quite dramatically, signaling this, and the banks not properly having a t-bill ladder (ie, buying a mix of short&long term securities instead of just long-term treasuries)? Adding lots of high-value accounts & making lots of loans is one thing, but diversifying the investment appropriately should be mission #1 for funds.