Having a bunch of institutions wind up at once sounds like the results of a stress test finally came back, so they now knew exactly who needed to have their plu

Having a bunch of institutions wind up at once sounds like the results of a stress test finally came back, so they now knew exactly who needed to have their plug pulled. This seems like it also differentiates the "financial economy" from the "real economy". The borrowers continue to pay the new owner, the depositors are made whole, and actual productive enterprises continue to tick on. The only ones punished were the investors who took a risk on bank management that wasn't doing an adequate job of managing risk. That feels like what SHOULD be happening. Endless bailouts have distorted the risk mindset of banks, and letting them fail should help restore discipline.