Dr. Smith is just ingenously dishonest. Nobody said there were no issues in the banking sector needing correction. The issues here is the way and manner it was done. The process was overtly politicised, leading to huge finsncial loss by the state. If you have a sprain or broken leg, u dont solve easily by cutting that leg off. That was what was done Dr. Smith. No wonder we are where we are now with Debt-to-GDP ratio of over 100%, a DDEP and an IMF bailout

Unfortunately I think Dr. Smith has forgotten his banking theories literature. If the banks had governance issues does he think collapsing them is the solution? Did he check the exposure of some of those banks to government contractors? Did he also know that government freeze payment of these contractors which seriously affected the banks for three years? Let's face it, what was done were poorly thought through and it was mere attempt to target some political opponents who owned businesses, not reform to strengthen banks because today the banks are still on liquidity support from central bank.