Does that state it plainly enough?
You could take every bad mortgage and pay it off...you would not use 1/10 of TARP or the FED spending ...this is not about mortgages. It’s about wall street making terrible investments without sufficient capital relying on derivatives (insurance) to cover their losses...too bad there was insufficient capital to cover the losses.
What has nearly bankrupted the country is the idea that everyone is entitled to own a home regardless of their ability and/or willingness to pay the mortgage cost.