Question : The financial system is starting to look like a fun-house version of American capitalism.?

http://biz.yahoo.com/usnews/090415/14_5_…

What do you think of this? The article is too long to paste here, go to the link above to read the rest. This is from US news and world report -

Last fall, it probably made sense to flood the financial system with money, to prevent a panic that could easily have compounded a nasty recession. But that was then. As the bailouts have proliferated, so have the unintended consequences, and the financial system is starting to look like a fun-house version of American capitalism.

As the Obama administration enters a new phase in the financial bailout, here are some of the perverse developments that ought to be reexamined:
Bailing out profitable firms. In normal times, nobody would think of giving taxpayer funds to companies able to survive on their own. Yet that’s exactly what we’re doing. Goldman Sachs, Exhibit A, is sitting on $ 10 billion in government loans even though it earned $ 1.8 billion in the first quarter. Wells Fargo, which has gotten $ 25 billion, expects its first-quarter profits to come in at about $ 3 billion. Several other major bailout recipients, including JP Morgan Chase, will probably be profitable for much or all of 2009.
financial reporting system

Best answer:

Answer by Chris Pascale
That is a great article. For another, check out the one below. It’s really getting out of hand.

http://americanaffairs.suite101.com/article.cfm/chrysler_still_living_high_as_troops_get_cuts