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Many of the data in charts and text were taken from the websites of the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System.
The amount of deposit money created matches the amount of government securities taken off the market if banks fail to make use of their new reserves resulting from their new deposits, which has been the case lately.
It seems that the rational heads believe that the scope of potential contagion (deposit outflow, sovereign debt) is more limited that if such a decision had been taken in previous programs.
That stance disagrees with the position the FDIC itself has taken in earlier litigation and would come as a shock to most bank depositors, who assume FDIC deposit insurance is backed by the full faith and credit of the government.