Credit Crisis?

I'm still in a ranting mood on this topic. Our government is poised to take its own stakes in the Banking Industry. I honestly do not see this as a necessary move. These institutions made the decisions to a)grant credit to customers who were not credit worthy and b)to overextend the number of loans to a point that they did not have sufficient cash reserves. As a result of extremely stupid (and greedy) management decisions the government is having larger, more stable banks buy up the unstable banks which is leading to a monopoly in the banking industry in several areas of the country. On top of that the recently passed "Banking Panic Legislation" gives the federal government the authority to own stakes in any bank it sees in danger. In other words we will have nationalized banking the moment the US government sees fit to seize all the banks. Doesn't it leave you all warm and fuzzy to know that all of your financial needs will be handled by the US government (with the debt being backed by China, of course)?