The taxpayer is expected to bankroll a massive bailout, and yet what will the taxpayer receive in return? Little more than a return to the same-old system which benefits the rich much more than the poor or middle class. Rewarding bad behavior by banks and investors can only be harmful to the incentive structure of our economic system and thus harmful to our society. The entire point of a free market is to reward good behavior and punish bad behavior, but the bailout will have the opposite effect, in essence rewarding greedy people for being greedy and rewarding rich people and banks for being rich in the first place. Even when these people go bankrupt, they don't go bankrupt, which is obviously unjust.
Any bailout should go to those who need it. The government should make sure that the money is only spent on worthwhile causes, like infrastructure or education. Unscrupulous capitalists should obviously not get any of the money. Greedy bankers were the ones who caused the financial crisis in the first place.