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Cartoon Bank: Understanding the Fed's Policy of Quantitative Easing

Still confused about quantitative easing? We have a couple experts to help sort things out. They're articulate, plain-spoken, and, best of all, cute cartoon creatures. Here's a brief excerpt explaining what the Federal Reserve is up to:
Creature 1: It means they are going to expand their balance sheet and buy Treasuries.
Creature 2: What does that mean?
Creature 1: It means they are going to print a ton of money.
Creature 2: So why do they call it the quantitative easing? Why don't they just call it the printing money?
Creature 1: Because the printing money is the last refuge of failed economic empires and banana republics, and the Fed doesn't want to admit this is their only idea.

Truth hurts, although I must admit animation dulls the pain. But if you think the explanation above is too hard on the Fed and "the Ben Bernanke," check out the following counterpoint. Giving QE a pass, it pins the blame for the shaky economy on Republican presidents past. Th-th-th-that's all, folks!