Milton Friedman advocated using overt Treasury/central bank-issued money to fund a negative income tax, to provide a basic minimum income for poor people. I have advocated -- in the tradition of CH Douglas's National Dividend -- using overt money to fund a monthly basic income payment to everybody, no means testing at all.
Bill Gates, you, 'the poor' -- every citizen over 18 with a SS number receives the same monthly direct deposit in their bank account, via the central bank anchored money payments system.
Indebted individuals and households -- and small businesses whose owners self-finance with personal debt -- could use the monthly income payment to pay down their household debts. Because the basic income payments would have to be made through the banking system, the banks could directly "take" the amount received by debtors, and apply it to paydown of due and overdue loan accounts.
The overt money issuing program is fundamentally a debt paydown program and a financial and economic stabilization program. Its purpose is to bring the money system into closer alignment with the value-adding real economy that is activated by the spending of money.
For debtors, debt paydown would be automatic, not "optional". Non-debtors would be free to spend, save, invest or give away their monthly payment, as they choose.
By creating overt money, and giving that money to the banks' debtors, you bail out the insolvent banks by bailing out their defaulting debtors. When a failing bank's debt-assets are restored to "performing" status (loan principal repayments and interest are being paid on time), the bank no longer suffers illiquidity problems, and its solvency is not in question.