(Wall St Journal-Deal Journal Blog) The U.S. Treasury, Federal Reserve and Federal Deposit Insurance Corp. quietly nationalized much of the U.S. banking system Tuesday. If the banking system sold its soul, we hoped it had at least gained pretty decent terms. So we went digging and found good explanations, particularly from Oppenheimer & Co. analyst Meredith Whitney. Deal Journal provides a practical breakdown on Treasury’s plan below.
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