This would also reduce the overall amount the government needs to inject. There are many details to work out. But I hope this provides a start. It is going to require being balanced and creative, holistic and uncompromising, in achieving the end goal. Piece by piece approach with all discretion given to banks simply hasn’t worked.
Time is of the essence if we are to restore corporate investment and job creation. Sustainable progress in an economy cannot occur when a set of players is allowed to hold up the efficient allocation of capital. Their owning a smaller share of assets can help unlock economic value; their hogging of these assets will only lead to further value-erosion.