Yeah, I love bailing out domestic and foreign multimillionaires. That's where my tax dollars do the most good... On a more serious note, the "fix" is propping up the institutions of Frannie and Freddie more than fixing the problem.
The "fix" also seems aimed at maintaining full employment for retired pols than of helping the housing mess. Since the "help", interest rates for mortgages has gone up.
You’re right. These are props until the bottom falls out. Between now and when the bottom falls out, legislation will be passed wherein we the taxpayer will be on the hook for the cost, while Goldman Sachs et al. sell their long positions and go short(this takes time, don’t you know).