No bailout. Life is not fair, when one makes bad choices one has to pay the consequences.
When a thief breaks into your house and steals your belongings and you don’t have insurance, you lose everything. I don’t see the difference in the thief breaking into your house or wearing an expensive suit. Your belongings are gone - there was no insurance, you get no bailout. SPIC is not involved - there were no brokerage accounts.
LLS