The FDIC already has the authority to guarantee the creditors for any bank. The FDIC merely has to guarantee the creditors for all our banks. This ends all the doomsday scenarios of one bank bringing down another bank and then the whole system.
So if we are truly in a bank crisis right now, the solution is obvious. We guarantee the creditors of all our banks and then we spend whatever it takes to send in bank examiners into all our banks. We close the insolvent banks and demand continued accountability for all banks that remain open.
The problem is now solved without creating 700 billion dollars out of thin air to give to the wealthiest members of our society.