From the article:
…..To bail out the banks, the Federal Reserve, as head of the private banking system, issued over US$2 trillion as “quantitative easing”, simply by creating the money on a computer screen. Congress, the White House, and the Treasury all rolled over and acquiesced.  When it was proposed that the government bail itself out of its budget woes by minting a $1 trillion coin, the Federal Reserve said it would not accept the Treasury’s legal tender. And the White House again acquiesced, evidently embarrassed to have entertained this “ludicrous” alternative…..