Quote from Illum:
The tarp did not work. People kept talking about inflation and how much money was spent. We were still in Deflation. The banks did not lend out the money, it never reached the system to stop the deflation spiral.
The Fed has just bypassed the banks. Bernake will not have another Depression, yes we now will have the inflation people have been worried about. But should that have been your primary concern? And the Fed can remove this money.
More concern should be spent politically on our growing budget deficits, than Fed actions.