To give you a brief overview for the links I will start with the Swedish banking model. In the late 1990s Sweden had a banking crisis. Instead of kicking the can down the road by bailing them out they put them into receivership wiped out stock holders & made the bond holders take haircuts. After the banks were recapitalized they recovered in relatively short order. Completely unlike our current crisis or please see Japan as the poster child. Barry Ritholtz over at the Big Picture blog has discussed this at length. Please follow the links to learn more:
Go Swedish, part 47
How-to Guide for Fixing America's Banks
Who Bears the Costs of Post-Crisis Recovery?
The Tiny Country of Iceland did the same as Sweden to the chagrin of the international banking community. The British & Dutch governments were also upset because their countries had the bulk of deposit coverage when they failed. In short Parliament via popular sentiment defied the Prime Minister and told the investors in these ridiculously leveraged banks to pound sand. The people of Iceland came out in force to demand that no unnecessary debt burdens would be put on their shoulders. After a short painful process of inflation through the resulting currency depreciation Iceland is on the road to recovery. Real recovery not some debt induced Keynesian short term recovery. The proverbial rip the band-aid off versus slowly pulling it off.. Basically the opposite of Japan, Europe, and the United States' solution. For further information definitely follow the Wikepedia link to learn more.
One more wrinkle to the Icelandic situation and why I will put them over the top on the "model" battle. They are prosecuting those in power that let the craziness of leverage & poor lending practices prevail. Rightly so!!! We still haven't prosecuted anyone of substance for the fraud and excess that went unchecked. Here is the link please read on!
Iceland tries ex-premier over collapse