Spending $700 billion to bail out the financial industry is about $2300 per US citizen.
So, the US government wants to spend $2300 of my money (probably more) to clean up the financial mess left by greedy and stupid people. We're letting the people who knowingly arranged and sold bad mortgages off the hook. We're also (presumably) letting the people who knowingly walked into mortgages they couldn't afford off the hook.
I now feel really stupid for working an honest job and living within my means. Our government seems to be largely in the business of making sure that the unscrupulous prosper.