The federal government is suing the banks for selling freddie and fannie misrepresented securities. Is this going to cost the banks anything? I think not. Were the banks forced to make bad loans? To an extent ,yes. Did the rating companies have to commit fraud rating these tranches? No. Could this suit diminish salaries and bonus’? No. If the banks could exert enough influence to be recapitalized to the tune of many trillions, could they have also declined those loans? Of course. Could this have been all planned? I do not know but the banks and the managers therein have more control (money) than ever.
All true, no one forced the banks to make interest only mortgages and balloon seconds and all the other BS that happened.