Our banks were "saved" in the late 80s by 17% interest rates....

Our banks were "saved" in the late 80s by 17% interest rates. Keating knew how the money/financial system worked and the secured the banks asses by charging the rest of us. It was the only way to secure the economy.
And so I feel the same will happen here. While the banks deserve some pain for not using due diligence with lending, only we can pick up the tab.
Interest rates rises here we come.