> if the government took ownership of the banks, then we'd
> get 100% of any upside.
And of course 100% of the downside. Like you say:
> If things go bad, the *vast* majority of the losses accrue to the
> Treasury.
Right, so that's the baseline scenario. Even in the case that they go completely bad, it's no worse than the worst-case.
So what's wrong with that?
/jordan