Pecunia Emptor http://coto2.wordpress.com/2010/05/19/pecunia-emptor/

That profit can come about by borrowing money from the Fed at 0% (they are the only ones in the nation with access to this favorable rate at the central bank), and then investing it at 3.5% in Treasuries. This little scam, in which the Fed transfers wealth from those in the US who have actually saved money (mostly retired people) to the big banks, is risk free money for the banks because the Fed has promised this game will go on for “an extended period.”