Hoodwinked

Yes folks, we've been hoodwinked.

Remember a few weeks ago when Congress and the media and the rest of us were in an uproar about the $750 BILLION we will give to banks?
(We already gave banks $250 BILLION of that to the banks and guess what they are doing with it: Hoarding it. Thanks banks. Way to make sure that cash doesn't actually help the economy. Instead, use it to cover your asses, because we all know we can trust YOU with our money.
But this isn't the story I want to tell here. It doesn't matter to this blog what happens to the money after the government wastes it... Even if I do want to choke a CEO or 2... Read on.)

My question is: If good ol' congress was so upset about $750 BILLION, why is the fed prepared to dole out another $540 BILLION without even telling anyone? Combine this with the $500 BILLION I bitched about a few days ago and we've blown long past the $750 BILLION everybody got their panties in a bunch over...

Story from my boy Kai at Marketplace.
Fed jumps in for money-market funds (NPR)
Another story, more directly about the $540 BILLION:
Fed would grant up to US$540 billion to money market funds (Y!/AP)

THIS is whyipaytaxes.