Just to be clear, I was referring to retaking classes with grades of C or less. I agree that there is little point in retaking several 3.0 level classes and that an internship would be a better use of your summer.
As I mentioned before there are several great finance schools (including Penn). I do not get involved in the value judgment of which school is "the" best for all students since this is an individual decision. Nonetheless, there are several outstanding finance schools including MIT and Chicago that have also been declared the best schools in finance. In addition, the NYC elites, Columbia and NYU, should be considered as well. For present purposes, however, Penn is probably a good benchmark for the elite finance programs.