If I had my druthers, the bail out money would have gone to the people who were losing their homes in the first place. IOW, I would not have bailed out the banks at all.
Why?
Well, if our economy is going to collapse because of these mortgage/faux insurance/bad investment issues and we have to do something to stop it, then I would've rather started with fixing the foundation, the borrowers, than attempting to fix the sky light.
I have sympathy for the people that signed these loans. They were handed a couple of pounds of paper, paper that other experts couldn't have translated into English for them, along with a smile and a 'hey, we got your back.' They trusted these institutions and the people representing them. The thought, I'm sure, was 'why would they make me a loan they know I can't pay back. It's as much in their best interest as my own, for this loan to work out.'
As for the banks... I have nothing to say that wouldn't get me booted. Let that suffice ;)