As someone who works for one of the banks not involved in this, I have to say the thought of the government stepping in and restructuring things scares the crap out of me. I put this up to two parts: My lack of confidence in the current administration, and the fact that there are plenty banks out there that haven't fucked things up this bad (or at all) that would be caught up in the whole shebang. These banks fucked up. These banks need to take the hit. Yes, it should start with their restructuring to payoff as much as they can, even if it involves the high-ranking execs being not so high-ranking any more. Yes, Bankruptcy on this scale would be extremely difficult and be a pain in the ass for multiple people while it gets settled, but it would be within the law and I really think they need to work within the existing frames before tearing them down and replacing them with kid gloves and daddy's trust fund.

Here in MN, our major airline filed Bky not so long ago. They came out, made a profit, and are now merging with another. It sucked for them while it happened. It sucked for the execs, the employees, the stocks, and the people who bought tickets and had flights reduced. However, it was within the laws and worked out after a rather short time period.