And why not? They rejected paying out on the garbage produced by the so called bankers and allowed the local business to operate properly. For doing this, the State quite rightly owns it all and owes no one else.
Thus setting up a well regulated industry and spinning part of the ownership to the real stake holders makes perfect sense. The whole process has completely restored confidence and folks will want to own these banks. Better still they should also make the state a majority stake holder as well and treat it as a integral part of the governmental credit system as in North Dakota.
All this ensures that the banks serve their customers and not a band of newly minted high stakes gamblers.