Romney's idea from that editorial was a managed bankrupcy, which is what Obama did. The difference is that Romney said they should seek private sector loans to assit them till they were back on their feet. Which is how it usually works. That's how Bain Captical Came into being. Problem is at the time, there was no private sector money to be found. No one was lending. So Obama did what government is supposed to do in situations like that. He, the treasuary, and the dems put together a financial assistance plan. Unlike Bush and Paulson who just threw money at the banks and crossed their fingers, Obama's team had an actual plan.
Both actions were necessary at the time and without them the entire financial system would have been ripped apart. I complain, you complain, everyone complains about this because none of us ever truely believe things would come to this. That there were regulations in place to prevent this. What was not wide spread was every time the legislature removed those regulations to "promote business", glass steagall was the worst of it IMO and that was done under Clinton. It boosted the economy to record levels sure, but it also put far too much power in the hands of banks. When profits are your number one concern and product/service is a distant second, disaster is inevitable.