Not sure which one you watched. The bank bailout of 2008 was under Bush. (Emergency Economic Stabilization Act). It was to prevent the collapse of the financial system that would have lead to a run on the banks (everyone pulling their money out) and chaos around the world. This all came about because Republicans allowed the banks to get too greedy and not have the proper safety nets. Since then, the Basel III accords put in place liquidity requirement at the bank to avoid it happening again.
U.S. government bailouts of industries, companies and population groups date back to 1792. Learn how the biggest ones, such as the COVID-19 bailout, affected the economy.
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The Basel Accord is a set of agreements on banking regulations concerning capital risk, market risk, and operational risk.
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Obama came into office in January 2009. Obama did sign the Economic Recovery Act into law in February 2009 that was supported by economists. That wasn’t the bank bailout though.
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