"What If Your Bank Collapses?"

Talk about signs of the times! This Wall Street Journal Q&A examines What if Uncle Sam Takes Over Your Bank?

The picture painted isn't rosy. For instance:

How will private-banking and brokerage-account customers be affected?

That depends on whether the government takes a short- or long-term view. If it intends to be a long-term owner, then it will probably sell off the brokerage, investment-banking and other auxiliary operations as nonessential to the core banking business. If, however, the government sees its step as a short-term fix to shore up the system temporarily, then it may hang on to such operations.

What other products and services might be affected?

If the government takes over a bank, management will be under even more pressure to cut costs. Expect more branch closings and poorer customer service. "Think of the bank as the DMV of the future, run by government employees who have little upward mobility," says [Dave Kaytes, managing director at Novantas].

For a preview of what could lie ahead, The New York Times suggests, we should keep an eye on financial developments in the U.K.