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Pam and Russ Martens: Lack of confidence in the Fed weakens confidence in banks
By Pam and Russ Martens
Wall Street on Parade
Wednesday, April 5, 2023
Millions of Americans are beginning to ask themselves: Is the Federal Reserve a competent central bank or a terminally compromised regulator that simply does the bidding of Wall Street's mega-banks to the peril of average Americans and the U.S. economy?
Millions of other Americans have already made up their minds on this point.
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These persistent doubts about an institution with an $8.8 trillion balance sheet -- backstopped by the U.S. taxpayer -- is very bad for confidence in the U.S. banking system, especially when the Fed pivots from one banking bailout to the next. (What was the size of the Fed’s balance sheet prior to its serial bailouts? On December 26, 2007, the Fed's balance sheet stood at $929 billion. It has soared by 847% in just over 15 years of serial bailouts.)
Let's look at the evidence that has been stacking up against the Fed since the financial crisis of 2008 -- the worst economic collapse in America since the Great Depression of the 1930s. ...
... For the remainder of the analysis:
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