Yes, there is a part of that as well. The german government is absolutely to blame for the whole circus and far from the innocent victim they pretend to be.
Blaming banks for this suggests that more bank regulation and supervision is the solution,
Not at all. I'm very libertarian in this. The solution is to let the fucking "too big to fail" banks fail. But if they threaten to take down the whole system, bankrupt them the way you would any other essential service: By nationalising them, letting all their shareholders pay the bill, jail the top management for endangering the economy, selling all the financial market gambling money it holds and using all its assets to pay out regular peoples accounts. Then close the whole thing down and tell the other banks that if they so much as flinch, they'll be next.
If you give governments and politicians the ability to interfere in the market (tell banks and corporations what to do), they are going to use that ability not for the benefit of society, but for their own political benefit and the financial benefit of their political and financial backers.
Sadly, our fear of that is so overwhelming, that we've allowed the opposite to become reality. We've weakened our governments so much that banks and corporations interfere with politics (telling governments what to do) and they are using that ability not for the benefit of society, but for their own economic beenfit and the profit interests of their shareholders and investors.