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But why did the banks go to the wall? Because he presided over the housing bubble... for 8 years he didn’t care. I knew it would end badly and i’m glad it did and ruined his pathetic legacy.

Obama’s will get ruined with an even bigger crisis.

Small consolation.

From July 2012:

(Reuters) - Hundreds of bailed-out banks are still struggling to repay taxpayers and will soon find it even harder to make required dividend payments to the Treasury, according to a report on Wednesday by the watchdog for the government bailout program.

Of the 707 banks that received taxpayer money from the government’s Troubled Asset Relief Program starting in 2008, also known as TARP, about half have repaid the Treasury.

However, 137 of those banks used a government-loan program to repay their taxpayer debts, according to the watchdog’s quarterly report to Congress.

And of the 325 banks still propped up with taxpayer money, 203 have missed dividend or interest payments, with some missing as many as 13 payments since receiving capital injections at the height of the financial crisis, said the report.

Adding to their woes, the dividend that the bailed-out banks are required to pay to Treasury is set to increase to 9 percent from the current 5 percent as early as 2013.

“Those banks are not able to raise the capital that is required to get out of TARP,” said Christy Romero, the special inspector general for the bailout program.

“We are very concerned about those banks, and want those banks to stand on their own feet without government assistance,” she said.

http://www.reuters.com/article/2012/07/25/us-usa-banks-idUSBRE86O05Y20120725