The philosophy of Left-ish people is that economic decisions should be political, not private — made by government rather than by the market. Lefties also believe that public interest, not profitability, should be the criterion.
The response to the financial crisis was:
Broadly, the Left got what it’s been demanding. So let me ask the naïve question: What exactly is the complaint?
1. The politicians should have let the bankrupt firms fail?
2. The politicians made bad economic judgments about which firms to bail out?
3. The politicians should not have been influenced politically by lobbyists for firms?
4. The politicians should be bailing out other people too, e.g., those who can’t pay their debts of other sorts?
5. The politicians should or should not have done something else?