[xkaydet65]

They were in violation of the law. His job was not to enforce only the laws approved by the posters on Free Republic.

[Cementjungle]

Banks in the 1990's were coerced into giving risky mortgages... or face discrimination suits from Congress. They did so, after much protest. Congress then allowed them to package subprime loans and resell them, assuring them that the Feds will back them.

Then, right on cue before the 2008 election, everyone decides there's not enough money to cover all those bad loans.

Then Obama comes along and sues the banks for doing what they were forced by the government to do.