I heard a guy on BBC Radio 4 referring to the bail out of the banking system. That is a much better description.
Ah! Brendan, you didn't have to go to BBC4 to get that description, it was already posted here on this thread
So perhaps the correct terminology is the "banking institutions needed a bail out"
I take the point about "...we did nothing for the ordinary people." But in fairness, to a lot of ordinary people whose jobs were lost or businesses that were closed, it would have felt that way.
Conversely, a lot of people and a lot of businesses were kept a float that would otherwise have gone under had the banking system been allowed to collapse.