Does anything about this scenario sound familiar?

It could be 2008 all over again, except this time the Obama administration reportedly wants to let banks know that they’ll be insured against any risky loans they’re pressured to make:

Housing officials are urging the Justice Department to provide assurances to banks, which have become increasingly cautious, that they will not face legal or financial recriminations if they make loans to riskier borrowers who meet government standards but later default.

That makes it sound like the Obama administration wants banks to know they can have their taxpayer bailouts before a crash occurs, instead of after.

All together now:

Just great.

Unfortunately no, it isn’t.