I call BS. The banking community may have pretended they were ready for an overhaul and might have even swallowed one while they were completely desperate, but much of that opportunity probably disappeared before Obama took office when early spending of the TARP funds and desperate injections of liquidity into the banking system by the Federal Reserve staved off complete collapse. The course was already set before Obama entered office.

As for bringing on the World depression. That, or at least an American depression was pretty much made invevitable by the policies followed for decades under multiple presidents and largely outside of their control. American's simply make too little and spend too much, and pile up too much debt to avoid an adjustment on a massive scale.