You're wrong, and it's easy to show why:

SVB executives did NOT have to load up on high-duration bonds! They were under no obligation to do that.

They CHOSE to do it because they wanted to increase interest income and earnings in the short run.

They could have easily purchased a lower-duration mix of bonds. Instead, they gambled the bank on a bet that long-term rates would stay at historic lows.

Once they made that bet, they could have easily hedged it every year, at a cost. Instead, they chose not to spend any money on hedging.

The federal government did not cause SVB's failure. SVB executives caused it.