The Fed's Intervention in Inflation

The Fed announced it could buy up to 20% of any fixed income ETF, an exchange traded fund. I would love the Fed to come and buy ourETF, but unfortunately we don't have the Fed in Australia right now. The major banks used to produce returns on equity that were between 16 and 18%. But because people like me argued they would carry too much leverage,. CB8 was 21 times level in 2007 to date it's only 8 times level. When you delabored your business, you reduce its returns. And so their ROEs have gone from 16 to 18%, depending on the bank, about 10%. And their cost of equity is not much below that. Long story short