The rapid and complete payback of TARP funds by banks strongly suggests that the financial crisis was more a liquidity crisis than a solvency crisis.

LOL. It's not that I can't afford it, it's just that I don't have enough money.

https://en.m.wikipedia.org/wiki/Phil_Gramm

William Philip "Phil" Gramm (born July 8, 1942) is an American economist and politician, who has served as a Democratic Congressman (1979–1983), a Republican Congressman (1983–1985) and a Republican Senator (1985–2002) from Texas. He later became a lobbyist for UBS and founded a public policy and lobbying firm, Gramm Partners.[1] He was a senior economic adviser to John McCain's presidential campaign from the summer of 2007 until July 18, 2008.

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Some economists state that the 1999 legislation spearheaded by Gramm and signed into law by President Clinton – the Gramm-Leach-Bliley Act — was significantly to blame for the 2007 subprime mortgage crisis and 2008 global economic crisis.[17][18] The Act is most widely known for repealing portions of the Glass–Steagall Act, which had regulated the financial services industry.[19]