Senate agrees to next round of bailout

From here (and many other places):

The Senate agreed in principle to a new bill which would spend more taxpayer money to bail out participants in the housing bubble. The provisions include:
- $100 million for counseling not take out liars loans with 100% LTV ratios, which will likely go to banks and lenders
- $4 billion to help prop up housing prices, stem bank losses, and make housing less affordable
- Approx $15 billion a year to reduce losses for banks which gave out bad loans and homebuilders who overbuilt chasing more profits
- Expand the size of loans insured by the FHA, so they can absorb more losses for bad loans

Contrary to the obvious feel-good propaganda about the legislation, this does nothing to help homeowners who bought houses they could afford stay in them, or anything other than put taxpayer money in the pockets of people who contributed to the bubble, while making housing less affordable for responsible people. It appears to be the strongest statement yet that politicians consider the voter brainless morons who will believe whatever they are told, no matter how preposterous.