Same Bailout, New Dynamic

This is why the bailout didn't please the people and hence failed:

Negotiators on Saturday added a mortgage insurance program to the proposal at the request of rebellious House Republicans, though that plan is unlikely to be used by failing companies given the Treasury's ability to take bad debt off the books of troubled financial firms. That means the high-stakes negotiating sessions over the weekend served mainly to generate buy-in and political cover for Republicans and Democrats.

They will be back for another attempt. We don't see how anything much different than a HLC or RFC will pass muster.