The ‘bailout’ is no bailout. The Credit Default Swaps and other derivatives are now known to have been so overleveraged that they can NEVER have signigicant value, and might as well be called ZERO or close to it. Banks will not lend to each other UNTIL the detritis is exposed and CLEARED. Therefore the collapse will continue. False values cannot be hidden any longer. All govt actions in Europe and the US only prolongue and worsen the damage. Recapitalization of banks cannot occur unless the entire ‘shadow banking system’ is cleared from the books. The derivatives debt is $10 to $20 trillion by recent estimates (just the interest payments that must be borrowed for the rollovers of a conceptual over $1 QUADRILLION quoted by the Bank of International Settlements), and, all the G7 countries are swamped many times over by this debt. Do not think bailout...it is the Titanic and the stern is almost perpendicular.
The plan changes the accounting rules back to the good old days. No mark to market. And the band plays ons.