Thanks for the replies.

If the Fed needs to get the banking system (the big banks TBTF, not the local deposit banks) "shored up" so to speak so they can handle stress better, isn't this basically the same as giving them money? Or are they just making the system such that the banks can earn extraordinary income (since they can borrow nearly free) so they "earn" their way to a stronger balance sheet?

It seems like to me there is a transfer of wealth from those trying to save money (low interest so they earn nothing) to the banks and the government so their high debt levels and leverage costs them less.

John