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Does this mean you and I have say-on-pay rights? March 17, 2008

Posted by davidzweig in economics.
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It looks as if you and I will be owning a piece of JPMorgan in 29 days or so. If there’s a profit, will we get dividend checks? Is this how free enterprise is supposed to work? We’ve never lived in such strange times….

From the Financial Times:

“It emerged that the US government has agreed to take on any credit losses suffered by the Fed on its $30bn loan to Bear Stearns. A senior Treasury official said the move could cost taxpayers’ money, although it could also make a profit.”
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