Comment by foxglacier

Even then, the people the money came from voluntarily chose those institutions. If you don't like risky investments, there are lower risk institutions or products you can put your money in. It's still ultimately the will of the individual what they do with their money, and the consequences of bad choices are still mostly contained to the individuals who make them. But when it's done with tax money, everyone's dragged into it and has no personal choice in the matter. Even worse, when it's tax money without democracy, even if the majority of people don't like how it's used, they even collectively have no choice in the matter.