Fundamentally wiping out shareholders and most of bond holders bonds is a good thing. It keeps markets healthy and honest. Excuses about pensions is just excuses from gamblers.
remember during covid it was deemed acceptable for the elderly to die for the economy? We need that, but for useless corporate slop that's now relaceable by useless AI slop. Slop In, Slop Out (SISO)
The boom/bust cycle is the Faustian engine of innovation. Take away the risk of busts and we have fake capitalism without innovation or renewal.
Instead they bail them out and let society go to zero. But socialism bad