No one was facing insolvency. The Federal Reserve implements its mandate to control interest rates and inflation by managing the money supply. Specifically, th

No one was facing insolvency. The Federal Reserve implements its mandate to control interest rates and inflation by managing the money supply. Specifically, they do that by creating and destroying money by buying and selling government bonds on the market, until the price of those bonds is such that the interest from holding them falls within the target interest rate range. When certain interest rates were, for a moment, excessively high, they took a modestly extraordinary step to intervene. That's all. Bank bailouts were a bad idea that increased moral hazard and left the economy more at risk than it was before, but this isn't a bailout, and the commentary is about as topical here as a generic Microsoft rant on a random HN article about compilers.