[jefftk]

> It’s not like they were going to sit on them for the whole term anyway

Really? Most of the reporting has described them as having a crisis in part because lots of treasuries that they had classified as "held to maturity" needed to be reclassified as "available to sell" which required marking them to market.

[swatcoder]

That’s just accounting. They reclassified now because they were having a crisis, but of course they would have reclassified later when it was advantageous.

They weren’t trying to tie up their funds in extremely low-yield assets for the next decade. They were parking it somewhere that made their books work until they could move it somewhere else.