Here is an excerpt of a Reuters article titled "Jim Rogers calls most U.S. banks bankrupt". I think it it one of the most lucid and clear comments to describe the impact of these bailouts.
Here is the url: http://www.reuters.com/article/Investme ... CO20081211What is outrageous economically and is outrageous morally is that normally in times like this, people who are competent and who saw it coming and who kept their powder dry go and take over the assets from the incompetent," he said. "What's happening this time is that the government is taking the assets from the competent people and giving them to the incompetent people and saying, now you can compete with the competent people. It is horrible economics."