It might be time for America's leaders to study and learn from how other nations have acted.

What Ireland has just implemented, has made it far less likely that people will start  a run on the banks.

http://www.irishtimes.com/newspaper/breaking/2008/0930/breaking7_pf.html

Excerpt:

Tue, Sep 30, 2008

Shares in Irish banks rose sharply today
after the Government placed an unlimited two-year guarantee on all
deposits and certain debt in six Irish banks in a move designed to
“safeguard the Irish financial system”.

The move comes two weeks
after the deposit protection limit of €100,000 was introduced by the
Government and follows yesterday's record losses for Irish financial
stocks, with Anglo Irish Bank shares falling 46 per cent. Banking
shares fell 26 per cent on the Iseq yesterday.

At close of business, the Iseq index of Irish shares was 7.87 per cent higher at 3,550.63, a rise of 259.11 points.

Anglo
Irish Bank, which was the hardest hit of Irish bank stocks yesterday
with a 46.2 per cent fall, recovered its losses closing up 67 per cent
at €3.84. Irish Life and Permanent shares were up 35.8 per cent at
€4.85, largely recovering the 38 per cent fall in its stock yesterday.
Bank of Ireland stock also rose, adding 20.7 per cent to €3.95,
regaining more than the 20 per cent loss in its share price yesterday.
AIB shares were also higher, rising 18 per cent to €5.90 by 5.30pm,
more than yesterday's 16.7 per cent loss.

At a press conference
in Dublin this morning, Minister for Finance Brian Lenihan explained
the move was designed to “secure the stability of our banking system”
as it was becoming increasingly difficult for banks to secure funds on
world markets.