People get pissed about bailouts, but a company like this failing could well cause a big domino effect. It's not the company the government is protecting so much as trying to protect the whole economy.

It's worth bailing out some key companies to maintain confidence in the system as a whole. The whole system runs on faith when you get right down to it. If people start to doubt the FDIC then you get runs on banks and th whole thing falls down.