That's what criminal and civil law is for.
I'd be the first to tell you I don't like the way a lot of this "bailout" is being handled. The "investigations" are being directed by the same people who were in this up to their elbows, so I don't have a lot of hopes there, but I wouldn't mind seeing some of the instigators get their rear ends handed to them. Hint: not all of them were businessmen.
But is it necessary to penalize an entire group of people for what some of them did? Assume that it's right and proper to confiscate their wealth? For every Enron CEO there are hundreds, if not thousands, of good ones.