This is the weird part for me, that is typical of what you would see on WSB and not a bank holding 200 billion in deposits.

They also used legal accounting tricks to hide their unrealized losses on the bonds they bought.

Ya, it was terrible risk management. They essentially made a bet that interest rates won't go up in the next 5.6 years(average length of the bonds), starting from 2021. They also didn't hedge against that bet, which you would see on r/wallstreetbets.

They probably had, and they did a terrible job or were overruled.

There's a difference between being on a board and being a C-Suite executive. Most of the time, Board Members are there to lend their credibility and leverage their contacts. They are probably going to rely on the information coming from the C-Suite and ask questions based on what they are being fed. They also look good on a PowerPoint, which would help convince investors to put money into a business.

After researching what happened at Theranos, I found out only a few board members fact-check the information they are being given. For example, several people with connections to the DoD didn't bother to check Holmes' claims about what Theranos was doing with the military. Ya, these boards are sold to the public as safety valves and watchdogs on behalf of investors. In reality, many just take the paycheck, believe what they are told, and leverage their contacts when needed. I can't blame them because many are on several boards and don't have the time to do deep dives on every company under their purview.

....so it's a no?

There’s no selection if they are banned no?