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The liquidity injections of the recent past, while they are subsidies of sort, are at least loans to banks that are still, in principle, able to pay them back, and would wipe our these banks' shareholders if claimed.
JPMorgan shareholders are taking little risk in this case. The Fed should have gotten some shares in JPMorgan to back that guarantee. In the long run, we're all dead. John Maynard Keynes
