AFAIK, the Fed has agreed to lend banks cash on a short-term basis against their devalued (hardly worthless) bonds at par. If you have a source for the Fed agre

AFAIK, the Fed has agreed to lend banks cash on a short-term basis against their devalued (hardly worthless) bonds at par. If you have a source for the Fed agreeing to buy bonds I'd be very interested to read it, because AFAIK the Fed is selling close to $100B of bonds a month.