still cant suss inflation vs deflation

This article on bloomberg:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a5E0pi30W5.s&refer=home

The basic idea being that the banks are just going to buy lots of bonds with the money the fed is throwing at them - never allowing that money to hit the system.

So much I don't understand... doesn't the fed usually increase the money supply by buying bonds - printing the money to do so? In which case, how is this any different if the money passes through the investment banks first?