Maybe this is not the appropriate post to ask this, but I do not understand why is everybody speaks of "massive guarantees" or even bail-out. We are talking about 30 billions, which is a lot of money for us but nothing compared with the sums they have already poured in the market or with the potential liabilities of Bear Sterns. And more, this is money loaned to JP Morgan not to Sterns so, unless I am missing something, they will lose this money only if JP Morgan too goes under.

It seems to me that this looks more like a semi-nationalization.