Suspicious of the Bailout

Why am I suspicious of this $700-billion bailout?
Let me count the ways.
First, the geniuses on Wall Street perfected this tricky business of cutting up mortgage loans and repackaging them as investments and selling them around the world. This was a dicey business to begin with. They did it only to make money, not for the good of anyone but themselves.
Second, many of these loans should not have been made in the first place. Lots of people with small incomes and little knowledge signed on the dotted line. They borrowed money in adjustable rate mortgages or ARMs. They didn't know that their mortgage payments were going to leap from $2,000 a month to $3,000 or $4,000 a month. These ARMs were going to close about them and try to crush them to death (financially, of course).
Sometimes these loans were much worse than that. They were fiscal black holes from which you could never escape. Here is a link to a good story:
http://www.businessweek.com/magazine/content/06_37/b4000001.htm
Many of these loans were a form of financial entrapment, a con game, really.
Third, the government has lied to us before. The Iraq War, the Vietnam War, the "axis of evil," etc. I could go on and on.
I'm suspicious that this could be a bailout for the rich and greedy, and screw the rest of us.
I'm glad that Christopher Dodd and some other Democrats and some Republicans are trying to keep this whole transaction more or less honest.
But good luck to them.
They'll need it.