>>>http://articles.moneycentral.msn.com/Investing/Dispatch/market-dispatches-092908.aspx
>>>
>>>Bought by Citi
>>>
>>>Pretty soon there will be just one bank, the bank of Ban & Hank....
>>
>>Still not a disaster. One bank buys another one.
>
>They can afford to buy each other. When they fail, the taxpayers will foot the bill.

Exactly. The acquirer does not care anymore what is on books. It means that failed practices will persist indefinitely or even be enshrined in laws.