FWIW, I think the size of the insolvency is more telling of the failure than the AUM. E.g. First Republic was about ~$13B in the hole when it was taken over. Ot

FWIW, I think the size of the insolvency is more telling of the failure than the AUM. E.g. First Republic was about ~$13B in the hole when it was taken over. Otherwise a large bank with a large hole looks way worse than a small bank with a huge hole.