Many intelligent people are not at all enthusiastic about the recent lawsuits various government operatives are filing against the banks that survived the financial crisis. The correct response is approximately this: not enthusiasm but reluctant support.
(Read more: BofA Suit: New Look at the 'Lincoln Law')
I know it's easy enough to find the recent spate of bank lawsuits a bit unseemly, even if you don't fully subscribe to Barney Frank's theory about the injustice of the government suing banks like JPMorgan Chase and Bank of America over the activities of financial institutions they acquired at the urging of government officials during the financial crisis.
As those of us who were paying close attention during the crisis know all too well, arms were twisted, the executives believed they were being good citizens by making the acquisitions they did, and the crisis might (not would—but only might) have been far worse if JPMorgan and Bank of America hadn't been willing to acquire Countrywide, Wachovia, Washington Mutual, Merrill Lynch, Bear Stearns and so on.
These weren't deals that would have happened without the full cooperation—and often insistence—of regulators.