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Boboli and the Hidden Burnt Cheese
Written by Steve | Published: |
As we were growing up my parents had us responsible for different jobs around the house. One of the nights my brother and I were in charge of dinner.
Trying to take a shortcut we grabbed the premade Boboli pizza crust, threw some sauce on there and covered it with cheese.
While the pizza was cooking we must have been distracted because the timer had already gone off and next thing we knew the cheese was burnt across the whole pizza.
After pulling out the pizza we heard the garage open and in a panic instead of starting over a fresh new pizza, we put another layer of cheese over the top and put it back in the oven.
The funny thing is that it worked…
The pizza looked good, but you can imagine what it tasted like when we all sat down to eat.
If you have heard this last week has had a lot of disruption in the banking sector, but it hasn’t come on all of a sudden.
Here is one chart that helps illustrate a portion of this.
After the global financial crisis in 2008 the government bailed out the banks. The banks would have to make payments to the treasury. You can see that those payments were flowing pretty steady until around August 2022 when the payments dropped off a cliff.
So what is the Fed doing now with the last few bank failures.
They are throwing more cheese on top of the burnt pizza.
In this announcement they are creating a Bank Term Funding Program (BTFP):
