Let all those who should go broke go broke be they shareholders or bondholders. No rescue. No bailout.

Replace the entire management staff of all major banks and financial institutions. Temporarily take over if necessary.

Fire and replace all those in charge of government regulatory agencies overseeing financial industry.

Replace Federal Reserve Chairman.

Replace Treasury Secretary.

That's what Obama could do now.

What the public could do is to replace most congressional members by ballot come election time.