Solving the Bank Crisis: More TARPs Are Not the Answer

``... insolvent banks should be acquired by purchasing the common shares at the market price and preserving the rest of the capital structure. Nationalized banks should be owned by the government (taxpayers) but isolated from government interference by a firewall. They should be run by independent management and a stand alone board of directors. The objectives would be to separate “good” and “bad” assets and get banks back in public hands through IPOs as soon as possible.''