You no doubt remember the many times I railed at Greenspan's easy money policies, even before all the bubbles started collapsing. I also said a bailout was needed, but limited to the extent of backing deposits in banks, to keep FDIC from failing. I know even years before I felt ARM's were a trap that would come back to haunt people using them.
As for myself I used a standard conventional mortgage, and realizing I'd have expenses later when my children hit high school, driving, and college age, I opted to sacrifice early and use a 15 year mortgage to buy my home. While I was doing that, many of those now protesting were using ARM's to live better than they really could afford, like a time bomb on their future, just ticking, waiting to explode in their faces, and bank accounts. While I paid off my CC's each month, they were living beyond their means buying all manner of goodies they really couldn't afford without all the extra credit they kept piling up. While they were buying new cars, I was buying off lease vehicles. They lived the good life, we lived the sacrifice but sufficient life and secured our future through investing instead of wasting it away.
Now many of those same easy spenders are sitting on the curb in gatherings around the country crying, moaning about the end result of how they've lived during the good times so that they have nothing left in the bad times, and blaming everyone else but themselves. Even if they are willing to admit their earlier excesses and foolishness, that doesn't lessen the situation they find themselves in right now. It also means however they shouldn't try and blame everyone else while they were also taking advantage of the easy money policies and putting nothing aside for when it would all come crashing down.
How have the bailouts hurt them? It's not been through increased taxation. It's not been through excessive inflation. It's not even seeing the banks get more money from the govt than what they take on deposit from the public. In fact if the dollar had been inflated more during this time, it's likely some of the jobs that fled overseas would have remained here instead. So, why the complaints? It's because they spent the future and finally having arrived there discover that either they have to pay it back, or lose what's left to them while those who didn't get paid back by them must now turn around and lay off people due to the drop in public spending. Yes, they spent themselves into this mess and now have no more left to spend and the system is collapsing in on itself until it reaches a new point of equilibrium, which may take a while yet.
If the govt printed up tons of money and filled the banks with it, that would affect the economy not a bit so long as the money remains in the banks and isn't loaned out. They are neither helped NOR harmed thereby.
What's left then? Envy. Class warfare. Blaming someone else. Expecting a handout after the party is over. Wanting others to "share" with those who already lived to the hilt when times were good. To try and get the govt to fleece those with more saved over the years to bail out those who saved nothing, having spent it all instead on living above their means.
Who else are they blaming? Those who really need the help? Those who spent years contributing to their retirement? Yes, I mean those who get a pittance from Social Security, about $1,000 per month. That's right, those protestors in the prime of life, worried those who have already given their part to this country, might somehow keep them from getting all they want and demand.
While I also agree the economic situation in this country was badly mishandled over the past 2 decades leading to what we have now, I can't feel much pity for those who lived life to the utmost on borrowed money and now have reached the reward they now face for having done so.