Our government in it's incredible unintelligence has vouched for the banks, recapitalised them and now is bailing them out and taking on defaulted loans. Why? Because they think that 'its the right thing to do' - based on bad advice of economists who don't know anything but this macroeconomic free market capitalist system. Our government like other governments worldwide are trying to fix a system that cannot be fixed and has had its day.
We do not need commercial banks anymore so why are we trying to continue their existence?

Do We Really Need Banks Anymore? - TIME

Why Do We Need Banks at All? -- Seeking Alpha

and:
Zopa - Loans from people not banks

My wish is Bye Bye AIB BOI PTSB UB et al