The Fed just spent a decade making fools of anyone who tried to manage risk sensibly; anyone who believes the stock market is currently measuring some sort of value would have to rate COVID as one of the best things to ever happen to the US. It is in fact just measuring the money printing activities. It is a bit rich to tut-tut at the money managers - they are probably idiots, but the reason idiots are managing all that money is ... the Fed incentivised it for more than 10 years.
Furthermore, I still think it is unclear that SVB was a true failure for the decision makers - in the sense that it seems possible that the people making active decisions might have made money. There has been a lack of clarity around who is losing out in this crisis and why ("shareholders" doesn't count - who are they? how much a head?). It seems possible the SVB owners who lost money were either index funds who pass the costs back to small players who were forced out of bonds by the fed, or entities caught up in some web that meant they simultaneously benefited from the bail outs. The people getting bailed out aren't normal depositors.
Furthermore, I still think it is unclear that SVB was a true failure for the decision makers - in the sense that it seems possible that the people making active decisions might have made money. There has been a lack of clarity around who is losing out in this crisis and why ("shareholders" doesn't count - who are they? how much a head?). It seems possible the SVB owners who lost money were either index funds who pass the costs back to small players who were forced out of bonds by the fed, or entities caught up in some web that meant they simultaneously benefited from the bail outs. The people getting bailed out aren't normal depositors.