Your tax dollars at work - Banking

As a follow-on to my earlier post, we learn that banks that are receiving bailout funds from the gummint are using those funds not to make loans, but to buy other banks.
As one banking executive noted, "I think there are going to be some great opportunities for us to grow in this environment, and I think we have an opportunity to use that $25 billion in that way and obviously depending on whether recession turns into depression or what happens in the future, you know, we have that as a backstop...."
So, not only are the banks using funds intended for loans to finance acquisitions, but are also relying on the federal government to provide further supports should their misappropriations not work out as well as they hope.
Methinks the chutzpah dial just got turned to 11.