This article extends recent work on the consequences of literacy-learning reforms by complicating the notion of "policy." Through a qualitative study in one high school, I explored how policy in its many forms, including the ways it was perceived and misperceived, shaped the literacy learning experiences of marginalized adolescent readers. Employing critical policy analysis, I considered the perceptions of five ninth-grade students who had previously participated in a reading strategies course, four district- and school-site administrators, and four ninth-grade English teachers. Findings suggested that official ("inscribed") policies were immobilized in the focal classrooms; that unwritten understandings (what I call "phantom policies") concerning required canonical texts were powerful influences; that literary study did not ensure that students became better readers; and that policies that emphasized the study of literature (rather than reading strategies) served to further marginalize struggling readers. I argue that because teachers play key roles in constructing and enacting policy at the classroom level, they must be actively enlisted in the formulation and critique of policies affecting their students. (Contains 3 tables, 1 figure and 2 notes.)