According to the article, if the Fed takes ownership positions in banks, that this move would strengthen the balance sheets of the banks. However, they would have to do it in such a way as to not alarm bank shareholders, who might perceive the action as punitive and that the bank is failing.
If this will help restore confidence in the banking system and result in more lending, perhaps it would be a good idea. Even some Republican policy makers think so.
"I went to the woods because I wished to live deliberately... and not, when I came to die, discover that I had not lived."
--Henry David Thoreau