Sun May 22nd, 2011 at 09:28:19 PM EST
Just for reference, I want to provide a little counter-narrative on what is left/right in the US and the continuing worldwide economic crisis: A Quick Note on Bank Liabilities (The Baseline Scenario blog)
[S]ome decision must be reached on bank liabilities. Sweden guaranteed all of them. If forced to say, I would go the Swedish route; but of course we can't do that unless we're prepared to put all troubled banks in receivership. And I'm ready to be persuaded that some debts should not be honored -- this is a deeply technical question.
This is Paul Krugman advocating the Irish solution for the US in 2009.