I do not feel outraged.
I do not know how to describe the feeling that I feel about this. It is that familiar feeling you get when you watch a young kid bat a ball against a wall, only to watch it hit him in the face. Or when you watch a dare-devil try to jump a semi-trailer, only to fall 30 feet short and end up sliding under it at 95 mph. The feeling that is accompanied by mumbling to yourself "Well what the hell did you think was going to happen??"
If you give a failing company money, to keep afloat, and they piss it away in bonuses (contractural or not, though the contractural ones would have been evaporated in a bankruptcy proceeding), all I can wonder is 'What the hell did they expect to happen?' You told this company they are too big and too important to fail, so what possible reason do they have for not failing? They can just keep spending like wild knowing the government is going to keep feeding them cash.
If my boss said I was too important to lose, and gave me a $1,000,000 retainer fee. I would probably start working 3 hour days in boxer shorts and doing the minimal to get by.