If your balance sheet looks like these companies who took the money, then the only way you are going to get a loan is from the Mob, and yes, they are going to tell you how you are going to spend your money.
They were set up for a fall just so the gubmint could come in a wrest control via "bail outs"
There is indeed a lot of blame to go around, but IMO, the majority of it rests with the likes of Frank, Dodd, Schumer, Raines, Fanny Mae ACORN, etc.
No one will ever convince me the the economic "crisis" and the installment of 'the one' was not an orchestrated coupe.