Assuming you are right, if the Fed did not spend those 900B, we will have an economy that probably would have lost $5 trillion by now. Any idiot who say no bailout doesn't understand a thing. If no bailout, your employer will probably go out of business and you and millions will be on the street looking thru the garbage to feed your family.
As the way things turn out, we will get the economy back on its feet, the toxic equity will start to worth something and the $900B will be paid back. Once the economy gets going, the taxes will provide Treasury a surplus.
No bailout will mean the economy going into tailspin and get us into deep depression for years.
You are a fool if you think these bailouts are saving the economy. All they are doing is keeping money in the hands of those who brought us to this brink. And preventing many of those who understood the coming collapse from profiting from the collapse.
The bailouts keep capital in the hands of the incompetent and criminal, and out of the hands of those who would be profiting if the collapses were allowed to happen as they should.