The Swedish banking crisis response

In long post The Swedish banking crisis response - a model for the future? , Ed Harrison wonders why the Swedish plan is not widely discussed. Conclusion:
"This is an immense task that the Swedes took on. Their entire banking system was effectively insolvent. Yet, they were able to fashion a workout scheme that had bi-partisan political support, did not unfairly reward shareholders, dealt with moral hazard, separated regulatory and workout roles so as to reduce conflicts of interest, and that quickly wrote down valuations and liquidated the bad debts as opposed to dragging the process out. The Swedish authorities should be especially commended for dealing with the liquidity and solvency concerns simultaneously, while keeping moral hazard to a minimum.

I thoroughly suggest you read this memo, save it and pass it on to your local elected official. It should be mandatory reading for the BoE, the Fed, the ECB and key government officials in he UK, US, Ireland, and Spain where the magnitude of the housing bubble is largest. See the link below for the full article.

Why this plan has not been more widely discussed remains a mystery."
(via 'Naked Capitalism')