they would stop talking about Goodwin's pension and do this:
- Recognise that the money is gone from the banking system, and banks already are in a dangerous public-private hybrid state;
- Evaluate the solvency and future viability of individual banks;
- Sort the banks into those that can survive with limited additional capital and those that should be closed, merged, or nationalised;
- Use government ownership and control of some banks to prepare for rapid resale to the private sector, while limiting any distortions from temporary ownership and with some caps on bank sizes;
- Buy illiquid assets from the banks, and avoid getting hung up on finding the “right price” for distressed assets or trying to get private investment up front, which will only delay matters and waste money;
- And then get industry going with as much money as possible going into road and rail building and power stations,
...and do all of this before the money runs out.
Sorry about the colour, but sometimes only green ink is good enough.