Risto

If the government -- in a functioning democracy, the public -- does not have a degree of control, the banks can pour the public funds into their own pockets for recapitalization or acquisitions or loans to government-guaranteed borrowers, thus undermining the alleged purpose of the bailout. That is what happened, though details are obscure because the recipients refuse to say what they are doing with the gift from taxpayers. Indeed they regard the question as outrageous, so the Associated Press discovered when it sought answers: "no bank provided even the most basic accounting for the federal money," most ignoring the request or saying, "We're choosing not to disclose that."

Again, normal workings of state capitalism.