They were the most politically acceptable thing to do. Now that is to let them go bankrupt. Recent actions have proved beyond a doubt that this administration is less about substantial ideological strategy as it is about politically motivated publicity stunts.
George Bush approved the first bailout.
The argument isn't whether Obama and politicians do whatever is politically easiest, the argument is over the merits of the bailouts. There are tons of people who defended the bailouts as the best idea in terms of economics, not as the politically expedient thing to do.
