That certainly pays a part in it. And so does the fact that people really don't like the idea of turning over that much money to corporations without any kind of oversight. Look at how much money has been lost in Iraq and Afghanistan! And that's with oversight!
Yes, there does need to be a bailout, but they need to make sure that the average investor is the one who benefits, not some overpaid manager who doesn't stand to lose anything to start with, and is likely to come out smelling like a rose no matter what happens.