The Fed's fully intended to bend the "states" over with the promise of returning moneys previously obtained from their citizens in the form of taxes if they setup the exchanges. If not, nothing for you.

It's how they operate, legislative blackmail. Do what we want and you'll get your money back.

It backfired when a bunch of states said screw you.

Now that they are being called on it, they are pulling a stupid face and saying that's not what they meant.