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40 years ago is 1983. https://fred.stlouisfed.org/series/FEDFUNDS

Their risk management might have overeindexed on the post recession era but the bank itself lasted through some pretty wild rate shocks.



True. It looks like they mostly just made poor decisions in their most recent allocations. Unfortunate.

Mostly, though, all this talk about them like they're a neobank is because everyone appears to think they are one.




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