I think people tend to forget that the banks were bailed out because if they weren't then the world's financial system would have shriveled up and died -- remember the credit markets had actually ceased to function and as a result no one could borrow money.
I haven't seen any credible arguments against bailing out the bank which would have ensured that the financial system didn't completely collapse. Some argue that we should have let the crisis take its own course, let the banks fail and deal with the consequences. But this would have guaranteed a second great depression and the vast majority of the world would have been negatively affected in a very bad way.
Now without congress actually doing anything against the banks there aren't too many options left, but hopefully the banks being sued can keep this issue in the spotlight longer to encourage public rage, so that Congress is actually forced to do something of significance.
Credit markets and the shadow banking system http://en.wikipedia.org/wiki/Late-2000s_financial_crisis#Cre...
I haven't seen any credible arguments against bailing out the bank which would have ensured that the financial system didn't completely collapse. Some argue that we should have let the crisis take its own course, let the banks fail and deal with the consequences. But this would have guaranteed a second great depression and the vast majority of the world would have been negatively affected in a very bad way.
Now without congress actually doing anything against the banks there aren't too many options left, but hopefully the banks being sued can keep this issue in the spotlight longer to encourage public rage, so that Congress is actually forced to do something of significance.