Gordon, you're still being timid.
Just let them fail, take them over, guarantee the deposits, wipe out shareholders and creditors, dismiss the management, reorganise the operations and resell them if and when there's an appetite for private ownership of banks.
£25+25bn is not bold or far-reaching. A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
¨Mine was $700bn.¨
¨But mine was 800% of GDP.¨
A brave try by the UK, but Ireland's epic opening move is going to be tough to beat.
