Should Cowen nationalise the rest of the banks ?

Previously a question only posed by lefties and shinners with the clear intention of expanding the public service and impoverishing the fat cats. The issues of how to restructure and who takes the losses (previously profits) still exist. The sad fact is that we are the banks and no punishment can be meted out without a cost to the ordinary punter.

Share prices have collapsed, even though they are mainly owned pensions and pensioners, and sadly that is what shareholders are for. Since most of the banks assets are funded through borrowing not equity, should the taxpayer instead of creditors now take the losses through nationalisation?

If the taxpayer funds the banks, the cost of the banks failing becomes greater, but there is an upside – old shareholders have the possibility of getting some of their money back and new shareholders will make money.