Savings and Loan Crisis had similar issues. Volcker raised interest rates extremely fast to combat inflation, which put a bunch of banks' assets during ZIRP und

Savings and Loan Crisis had similar issues. Volcker raised interest rates extremely fast to combat inflation, which put a bunch of banks' assets during ZIRP underwater. Regulations have controlled a lot of the serious problems back then, but there is no getting away from the fundamentals. Also, during QE, the Fed bought tons of overpriced MBS assets, and they're losing money right now for the first time in a long time. This doesn't really matter since they can't become insolvent; they just print money. But that has inflationary effects itself. This is a much more complicated (probably worse) situation than most want to admit.