No, the financial system is only working so far because we have yet to bite the bullet and start adressing the REAL problems with it. Until then the longer we wait the worse it gets.
So yes ... it is GOOD that they are stopping this.
Think about it. If we don't share the grief with fools and their money, we are going to be faced with paying debt interest with funny money.
Our trading partners will cut us off completely and I can't form a model in my mind where that would prevent the nationalization of debt to solve the problem.