Weekly Update: Bank Term Funding Program

We fully expect the Fed to renew the BTFP in March 2024 in order to continue to manipulate the banking system rather than allow poorly managed banks to be purged from the system. The BTFP is a $200 billion bank bailout that ought not to exist. Why is the national debt so high? Why does the U.S. standard of living continue to deteriorate? Bailout programs like the BTFP are the reason why. Further, the reason why we have so many poor Banking CEOs is because most of them have only operated in an environment where the Fed bails everyone out. This Fed bailout nonsense started in 2008 and needs to be reversed for the sake of the U.S. economy and for the good of the capital markets.