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If the banks had not been bailed out they would of collapsed.
WITH ALL YOUR MONEY IN THEM.
Maybe the Government would of repaid everyone which would of amounted to a bail out or they would of not and a depression like the 30s would of occurred. It took WW2 to get the World out of that hole.
So he had no option, he had to bail them out like other Governments did.
The problem was in the way banks and the stock exchanges were being monitored. This was a problem in a lot of countries as they all thought something could be got out of nothing.
Add to that the worsening balance of payments with China and the whole thing was a disaster waiting to happen. Again and again.
And again.
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