In the early 30’s the fed reserve said screw the banks and let them go under. If we can avoid a recession or depression, its a good deal. We will never know.
We won't avoid it. It's too big, now.
This is simply postponing the day of reckoning. Look at what's happened recently. Bear Stearns, Fannie and Freddie, Lehman, AIG...........not to mention the rumors about other financial institutions.
This might buy a little more time until the lifeboats can be mobilized but the Titanic has hit the iceberg and it's going down.