So your solution is to let the publics money thats in these banks go down the toilet I suspect.
Rather than swearing and moaning why not offer some suggestions?
Well, first of all, I am not nominally in charge of economic policy and nor do I have tens of vastly overpaid policy wonks to advise on whether my tactic would work.
However, my suggestion (and I have no idea whether it would still work) was really very simple: temporarily suspend the capitalisation limits.
In this way, banks could effectively not go bust: take RBS, for instance, which has estimated bad debts of... what?... £8 billion but assets of £1.9 trillion. It isn't going to go bust unless it falls below its capitalisation limit.
If it falls below that limit, under EU law (I believe), it has to cease trading on the same day, e.g. effectively declaring itself bust.
So, that's my suggestion: suspend capitalisation limits for eighteen months (and eighteen months only) and tell the banks that they have that time to sort out their portfolios.
Hell, I don't know if it would work, but it seems to me by far the best solution: it is certainly better than throwing billions of pounds of our money at the fuckers.
Of course, to do this we would have to leave the EU, so that's my plan stymied, eh?
Can we leave yet?