Because in one case, the spending takes place under the supervision of the people's representatives who can be held to account by the voters or the Law.

That you can actually say that with a straight face shows part of the problem in this country.

We just dumped almost a trillion dollars of tax money in a bill that neither you, or your representative for that matter, even read prior to it being signed. Obama can't find people for his administration that haven't been cooking their taxes, including the Secretary of the Treasury. The Congressmen currently in charge of the banking system were up to their asses in bank deals and campaign donations, often with the same banks. The "Law?" These people MAKE the laws. And ignore them when necessary. And it's becoming painfully obvious they have no idea what they're doing.

The loot--in amounts literally a million times larger than all the AIG bonuses combined--is now flowing as it always does, not to where it's going to do the most good, but where there is the most political pull, and the most opportunity for our leaders to enhance their political power.

Stop and think a while about just how much power you actually have to "hold to account" your government. Where I live, my state and national votes haven't counted for me practically since I moved here, and the next major election isn't until the end of 2010 anyway.