It’s been six long years since then-Federal Reserve chief Ben Bernanke, then-Fed board member Janet Yellen, et al., unleashed the federal printing press.

This action helped propel the cost of borrowing to a historic low, and the reward for saving has been eliminated.

Now the banking industry has sent up trial balloons suggesting that it wants to charge for guarding your deposits. How high will this levy have to rise to help our recession evolve into prosperity? More likely, our economy will self-destruct.

Nick Pappas

Cape Elizabeth