To make this more palatable, I suggest watching the Daily Show's coverage, which is available on the show's website, the bit is called America's Next TARP Model, it played on Thursday Dec 1.
What can we say about this? I know we have been discussing the role of government; some seem to think our governmental institutions are going to lead directly to an apocalyptic fate where the U.S. greenback will lose all value. While I have made it clear that, I do not agree with the former statement, this opaque maneuvering of government is unconscionable. What accountability is there if the Fed is allowed to make take such unilateral action? What can we say about moral hazard here?