I understand your point of view. The most compelling argument I have heard in opposition was the prospective effect on those who had trading accounts with Bear Stearns. No reason to think that these individual (or corporate) investors deserved to lose their investment capital when Bear Stearns's assets were frozen.
“No reason to think that these individual (or corporate) investors deserved to lose their investment capital when Bear Stearns’s assets were frozen.”
If they had their funds in derivative accounts let them go down.