To be honest, he has a point when he underlines the sheer size of the task:

I have heard the smaller banks, the low rollers, credit unions are doing fine, why take them over, most aren't asking for a bailout, if i understand correctly.

my guess the tricky part will be how do they compete with the government-owned banks?

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty