There are so many things wrong with the European bailout of Greece (and others). The long term effects on the standard of living in Europe: the value of money; and the corruption of the financial system to name a few.
At times like these, it is probably just as well to join the celebration of the financial and political rats that have made a big score today. They separated taxpayers (including US taxpayers) from $1 trillion of their money. The following ilustration is from "The Rats are in the Cheese." It sums things up nicely.