What you described is what happens during a normal bank failure. That happens fairly regularly to small local banks and it's not normally even newsworthy.
That's not an adequate response to a systemic risk against the entire banking system.
That's not an adequate response to a systemic risk against the entire banking system.
And fair enough. I won’t pretend to understand just how much risk there was to the entire system. But obviously the officials felt it was immense.