[IntFee588]

Not to be conspiratorial, but the situation is much worse than the fed is letting on. "Trying to forestall" might be optimistic.

https://www.bloomberg.com/news/articles/2023-03-12/us-moves-...

https://archive.is/FMuYW (archive)

Think of what this means, and how precarious a position the nation's banks must be in for the fed to take actions like this. We needed to reimplement Glass-Steagall yesterday.