> In this context, why should anyone be surprised that agents of the government threatened recalcitrant lenders with IRS audits, excoriated their behavior in populist press conferences, or promised to destroy their institutional reputations in the public eye?

Why do I think that you wouldn't be nearly so accepting if it was Bush or Nixon instead of Obama.

Actually, it's quite rare for govt to get involved in bankruptcy.

Do you really want to argue that involving the IRS is appropriate?