Not a good story at all. I know we don't have all the facts but this is a very sad story and makes a sad statement about the state of affairs politically and the degeneration of our society.

BTW, the banks didn't create the problem they only exploited the heck out of the system as a result of poor judgement on the part of political entities. Almost all the problems of today can be laid at the feet of the repeal of the Glass-Steagal act in late 1990's. They messed with what had been mostly working for over 65 years for some economical experiment put forward by a few not very bright economists. This allowed huge integration of banking/financial institutions, more deregulation of things financial, a derivatives explosion and a new kind of run away derivatives based on nothingness as opposed to derivatives for risk management by real businesses.

And Fin Reg has addressed none of these issues including the biggest of them all, too big to fail banks or government institutions like Fannie and Freddy.