Like a bad poker game

Why can't we try this? Currently, the world of high finance is in a ultra-high-stakes poker game. They've all got bad cards, but how do you tell who the winners are? Make everyone show their cards.

Bridge Loan to Nowhere?: "Henry Paulson and Ben Bernanke's bailout plan is not only the most expensive; it is also the most likely to fail. But there is more than one way to restore trust and restart markets. First, take a leaf from the New Deal. That is, just send bank examiners into all the institutions--investment houses and insurance companies, as well as banks--to assess them. Insolvent ones are closed; everyone knows then that those that survive are solvent. Economic life restarts. The total cost to taxpayers is minimal.

Guess why Wall Street hates this one and why Bernanke and Paulson do not even consider it. In all likelihood much of the Street is insolvent, which is why short-sellers were going wild until the SEC restricted them.