When a large financial institution is insolvent, the IMF should take it over, guaranteeing its short-term obligations, but wiping out the shareholders and repaying the long-term creditors only after all the other creditors (including the IMF itself) are repaid. Some people would scream that this is tantamount to nationalization, but it is no more a nationalization that the US Chapter 11 bankruptcy process is.
当一个大型金融机构陷入资不抵债的时候，世界货币基金组织应该接管该机构，保证履行其短期义务，并在该机构偿还了其他债权人（包括世界货币基金组织自身）之后才处理股东和长期债权人的问题。有些人会惊呼这等同于国有化，但要说国有化的话，没有任何行为能比美国破产法第十一章更加彻底。