We socialized the gains too. The shareholders and customers of banks vastly outnumber the employees of banks, and they all benefitted from the government's preventing the collapse of the banking system. The government even made a positive return on the taxpayer money it spent on the bailout.

Did you honestly believe we all would have been fine if the banks had failed in 2008? A collapse of the banking system would have destroyed the economy and badly hurt every individual American. We didn't bail out the banks for the sake of the banks, but for our own sake. Taking the moral position that the banks deserved to fail would have hurt us more than it hurt the banks.