Banking Collapse in the US

I have had this in my draft post box for a while, but the news is every increasingly grim for the financial system, worldwide and especially in the US.
I have just been watching newsnight, and they were saying that the bailout of fannie may and freddie mac has DOUBLED the US national debt.
The debt is already the largest in the world and when you add in petrodollar recycling this is a scary situation.
I do think we could see a couple more big banks collapse, with a similar impact on the US dollar. It is a matter of time. (the money is already in China, and the middle east)