Source for this? All evidence show that their failure at least started with them owning a lot of "safe" bonds, whose value declined with increasing fed rates.
https://www.linkedin.com/posts/rich-falk-wallace_silicon-val...
#1: Mortgage backed securities: $82B (83% residential) #2: Direct loans: $74B (55% short term loans to VCs & PE) #3: Liquid assets: $55B