I'm sorry, but this simplistic view is laughable.
After nearly 200,000 documents and several investigations, no evidence that any political pressure was applied to approve the loan has been found.
None.
So no, it wasn't "team Obama" -- it was career feds, doing what they're supposed to do: review loan applications and decide whether to approve or deny.
Some loan recipients go bust. That's the way it is -- which you'd likely admit, if an honest appraisal of the situation were your main goal.