http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/31/cnfed131.xml
Fed eyes Nordic-style nationalisation of US banks
By Ambrose Evans-Pritchard, International Business Editor
Last Updated: 2:58pm BST 31/03/2008
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“Shareholders have been able to lobby for a higher share price only because the Fed took over the credit risk on $30bn of the investment bank’s dubious paper. The whole affair also amounts to a colossal subsidy for JP Morgan,” he said.
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And guess who pays for it … … the taxpayers (i.e., any one who holds a dollar bill pay the “tax” of inflation).
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