#facestab last cranked 2009-01-01 23:22

Treasury took your money and won't tell us what they're doing with it, or whether it's working.
posted by anomie at 2009-01-01 11:30

anomie: "The most important evidence that our strategy is working is that Treasury's actions . . . stemmed a series of financial institution failures," the Treasury said
anomie: Responding to a question about what banks are doing with the taxpayer money they have received, the Treasury told the panel that "it will be challenging to view the impact of the Capital Purchase Program in isolation and at the institutional level."
coderman: <Treasury> once we figure out a palatable way to say "we're printing money and deflating the value out of the bills in your pocket" in a way that doesn't incite riots we'll fill you in. honest!"
coderman: <Treasury> we'd also like to avoid adding insult to injury by explaining how the lack of constraints or oversight related to the money we're printing out by the metric fuck ton full is being used by banks and others for risky speculation and leverage.
coderman: <Treasury> we'll furthermore overlook the fact that "printing money" is a term that connoted much more actual work that what we're actually doing when adding zeros behind balance lines in the federal reserve accounts... la de da
coderman: [editor's note: coder is obviously tired. the grammer checker has gone on strike!]
coderman: [[<grammar checker> go to bed, fucker!]]

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