This was expected following the trails of so called stimulus package and the mortgage help programs. This country is on its way to bankruptcy and much lower standards of living for future generations.

This proposal or some other proposal of this form will ultimately come to bailout/reward fiscal irresponsibility. This will increase deficits, kill dollar and help commodities and hard assets (gold anyone?). When these bad loans will start blowing up on govt on massive levels (trillions of dollars), our foreign borrowers will disappear and stop financing us. Then we will see double digit interest rates and much higher taxes for ALL. Unfortunately, we all will have to pay for the excesses of the few.