Sweden went through similar banking crisis in the early 90s. The govt bailed all the banks out by buying them/taking shares.
A few years later the shares were sold at a profit when the economy and banks recovered. I don't have the figures to show what the rate of return was, but even if it was low, wasn't that a small price to pay to prevent a far greater economic catastrophe?
Whilst our present crisis is greater, the solutions and outcomes can be similar.
The British govt (axpayer) now controls two major bank groups (one c. 40%, one c. 70%). I see no reason we the taxpayers may yet see a return for this huge investment. The govt is certainly working on this basis.
DAS
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