Some Unintended Consequences Of The Wall Street Rescue

This article (via Manan Shukla) provides a critical review of the government rescue of Wall Street banks during the financial crisis.   Its a long article that rehashes a lot of things that we have learned about the bailout over the last several years.  It concludes that we rescued the banks, but did almost nothing to help out those who got stuck with bad mortgages.  The banking system is more concentrated than it was before the crisis, but the implicit government support for systemic risk banks has encouraged them to take on even more risk today.  Moreover, we have learned that we can't trust the government to tell us the truth.  The government spun a web of lies when it got Congress to approve the rescue, and it lied to Congress and the public throughout the rescue effort.