Bill Black again

From his latest screed:

President Obama “demonized” “financial-services,” which explains why their executives “turned against the president.”  President Obama continued President Bush’s bailout that saved the financial services industry from collapse.  He appointed an economic team beloved by the industry.  Obama’s economic team met extensively with financial services executives in non-public discussions and hired many of them to fill key slots.  Geithner intervened with AIG to direct it to pay its massive bank creditors in full rather than negotiating a significantly smaller payment.  Geithner intervened with then New York Attorney General Cuomo to discourage even an investigation of the banks’ mortgage frauds.  The Obama administration repeatedly sought to limit the investigation and liability of banks for endemic foreclosure fraud.  The Obama administration structured its foreclosure relief programs to foam the runways to aid banks.  Obama and Attorney General Holder have consistently minimized any criminality by banks and have failed to do a meaningful investigation of any large lender of endemically fraudulent liar’s loans much less bring a criminal prosecution.  Obama and his economic team have repeatedly praised the CEOs of several of the systemically dangerous institutions (the biggest U.S. banks).  Obama has carried the banks’ water, not demonized them and the idea that (1) it is illegitimate not to continue the suicidal regulatory race to the bottom and the claim that Dodd-Frank produced “tough regulations” is unsustainable.  Over four years later, the principal regulatory change in response to the crisis remains the Federal Reserve’s action on July 14, 2008 (during the Bush administration) largely banning liar’s loans on the grounds that they were endemically fraudulent.  (The banks opposed the rule and Chairman Bernanke delayed its effective date for 15 months because one would never wish to inconvenience a fraudulent lender.)

I don't think he's mistaken.