Thanks for this. I appreciate your explanation. It makes sense that the interest earned from bank deposits at the FED wouldn’t be enough to cover the losses. But, since banks are being demonized because they’re not putting more money to work, this may be a way to get some back and put it work for real?

I sensed that my last question was a bit cynical. Thanks for your brilliant way in answering, however, isn’t cynicism sometimes the “…unpleasant way of saying the truth.”