Supporting failed banks is a waste of money because it is not the fault of the taxpayer that banks have made poor judgement. If someone makes a bad business decision, be it the depositor, or bankers, Capitalism requires that they suffer for their mistake. If someone else must always protect entrepreneurs from their mistakes, they are not entrepreneurs, the are Government.
It is best to let the banks fail and protect the taxpayer. If the depositor has made the mistake of trusting a risky bank, that is not the fault of your neighbours, the fault lies with your decision alone.
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