It's happened.
see bloomberg for more details.
Because the current administration is Republican, the scope of the bailout is much more limited in scope. Democrats are already criticizing the proposal.
People who have sat on the sidelines for years, responsibly saving up their money, are getting the short end of the deal. Not only are they going to have to wait even longer, due to the ever shrinking availability of credit, their taxes are now going to pay for those who were irresponsible.
What I'd like to know is, why is no one asking the one fundamental question? That is, why should the government bail out those who committed fraud, instead of persecuting them? Yes, applying for loans by inflating information on financial assets (including salary) is fraud.
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