As the broader stock market reaches record highs, many investors are pointing to the Fed's QE programs as the main reason for appreciating prices in risky assets. While some fear the long-term impacts of the program, few can argue the positive impacts it has had on deleveraging consumers and the housing market.

In this video, Motley Fool banking analysts David Hanson and Matt Koppenheffer discuss the program's effectiveness and how it has affected banks.