re: WHy the bailout???

The problem here is that the government screwed up the economy by meddling in the free market. They force mortgage companies/banks to loan money to people that were not qualified to get home loans. All this on the premise that every American should have the opportunity to own a home. Despite their ability to repay the damn loan.
The government broke it, they need to fix it. Of course they had no choice. To not intervene and risk an economic collapse is unthinkable.
Obama is the only one hoping for a collapse as it is his ticket to the White House.