"This appeal presents the following question: Is it ‘fair use” for a nonprofit organization to scan copyright-protected print books in their entirety, and distribute those digital copies online, in full, for free, subject to a one-to-one owned-to-loaned ratio between its print copies and the digital copies it makes available at any given time, all without authorization from the copyright-holding publishers or authors?” Wednesday’s decision reads. “Applying the relevant provisions of the Copyright Act as well as binding Supreme Court and Second Circuit precedent, we conclude the answer is no.”

(http://www.autoadmit.com/thread.php?thread_id=5589865&forum_id=2Reputation#48056712)