Final answer:
American taxpayers were discontent with bank bailouts because they seemed to reward large failing banks while smaller banks that acted responsibly did not receive equivalent support. This longstanding skepticism towards centralized bank power was also evident in historical criticisms of the Second Bank of the United States.
Step-by-step explanation:
The discontent among American taxpayers regarding bank bailouts is a sentiment rooted in their perception that the bailouts rewarded failure rather than success. This notion is supported by the historical context provided, such as the Panic of 1819 and the bailout of the Savings and Loans in the late 1980s and early 1990s. The bailouts appeared to many as an unfair advantage given to large banks, which were seen as responsible for the economic turmoil yet were being saved by the government, ostensibly due to their 'too big to fail' status, which left smaller, more responsible institutions to fend for themselves or collapse.
Moreover, the criticism of the Second Bank of the United States by figures like Andrew Jackson suggests a long-standing skepticism towards centralized banking power, which culminated in the view that it concentrated too much power in the hands of the privileged and was often seen as a controversial entity within American politics.