Don't allocate it to the shareholders at all. Allocate it to the executives. Arnold Kling got there first with a proposal that institutions that are obviously "too big to fail" and as such have a government guarantee should be bound by a spirit-of-the-law (S)contract, rather than the letter.
"I would like to see managers of government-protected institutions take an oath to safeguard the soundness of their companies. I would like to see them subjected to prison terms for violating that oath. The oath is a general promise, not satisfied simply by staying within the boundaries of L regulation.
I believe that S regulation would change the motives of bank managers. They would be looking for ways to avoid failure, rather than for ways to stay within the letter of the law."
"I would like to see managers of government-protected institutions take an oath to safeguard the soundness of their companies. I would like to see them subjected to prison terms for violating that oath. The oath is a general promise, not satisfied simply by staying within the boundaries of L regulation.
I believe that S regulation would change the motives of bank managers. They would be looking for ways to avoid failure, rather than for ways to stay within the letter of the law."
http://econlog.econlib.org/archives/2008/11/letter_of_law_s....