In his Opinion piece for Market Watch, Sven Henrich goes in search of the answer to several questions, beginning with, “What stable financial system requires over $100 billion in overnight liquidity injections? The Fed did not see the need for these actions coming.”

Even after announcing plans to inject $120 billion into overnight repo operations, ultimately, the Fed injected much more, $134 billion.

So what’s really up? Sven gains a bit of altitude to get a better view for his thoughts. Check out the full piece here.