We're Not Day Traders

You know day traders have finally achieved legitimacy when a Treasury official answers a question with: "We're not day traders".

The question was about the warrants Treasury has extracted from the banks it bailed out, which have already lost a third of their value, something of the order of 9 billion dollars. The complete answer of Neel Kashkari, the director of Treasury's Office of Financial Stability (otherwise known as the TARP Czar) was:
"We're not day traders, and we're not looking for a return tomorrow. Over time, we believe the taxpayers will be protected and have a return on their investment."

OK, first of all, day traders aren't usually looking for a return tomorrow, they're looking for a return today. Second, trying to turn a losing day trade into a winning swing trade is such typical day trader behavior. The next step is either trying to turn it into a long-term tax-deductible loss or, alternatively, ruin.