The federal money to bail out those failed institutions will be used first to fund “Golden Parachutes” for the senior managers who took such risks with their depositors’ money. Let the institutions go under but pay off the depositors. Once the bank is in bankruptcy court, the judge will stop the golden parachute nonsense. But as long as the bank is a “going concern” they will feel “compelled” to honor their employment contracts (sob!) and pay vast sums to the very people who risked nothing and now stand to gain everything.

Let ‘em fail!