Banks to write off debt yet be bailed by publics (as the pdf appears to support).
If banks are able to 'write off' debt, nations ought to be able as well.
Conversely, banks could be required to pay their debts, and publics could buy back public debt using national collateral.
Instead of continuing to support bankers, publics could support depositors, pensioners, homeowners, students, etc. directly.
note particularly the first link, the pdf, in the context of the htm press releases.
the media circus around last weekend's BIS 'capital requirements' announcement is to grease the wheels for more public bailouts through public loan facilities.
the pdf linked here spins 'writing down regulatory capital' as banks responsibly taking losses when they mess up. but it may mean writing off their own debt, while expecting publics to pay up.