The Fed nationalizes the banks

NOTE: Please also read today's Debt Rattle, March 8 2008Ilargi: In the article below, Steve Waldman at Interfluidity shines his light on how he thinks the Fed, behind the scenes, props up the US banking system. Repurchase agreements and covert nationalization The Fed announced that it would auction off $100B in loans this month rather than the previously announced $60B via its