Because then the NY Post's John Crudele wouldn't have to send FOIA's to the Treasury!
The "Plunge Protection Team" formally known as the The President's Working Group on Financial Markets responded to his Freedom of Information Act request by sending 177 pages of mostly redacted testimony, and no minutes.
Who needs the minutes? All you need is a phone call from Bernanke asking how smoothly credit land is operating. And that information, is in the market. Just look for the giant move in the futures market with no news!
But why cigars?
Because back when Volcker was the Chairman of the Federal Reserve, he loved chomping on cigars and blowing smoke in the Fed meetings. The solution? Crank the A/C to ice levels with the variable air volume box. What good was that? It cleared the air in the boardroom below. But what good is that? Well right next to the box, contained the speakers of the boardroom.
In today's world, that maintenance worker would already have an offshore account, courtesy of his "friends" in hedge fund land.
But they had the cigar smoker, and he was smoking in his tent in Sacramento.
It was Schwarzenegger!