If you don’t know why Mortgage Bailout is a very bad idea, read this:
The Government Did It.
The simple fact is, the mortgage bailouts will do nothing to help the housing situation; and will most certainly not help those who it proposes to help. It won’t work for the same reason that other Socialist ideas don’t work. Simply injecting money into something does not change the underlying reality of the situation.
At least these bills will do two things: Break the myth that Conservatives are in favor of-and try to maintain- Free-Markets; and the myth that problems are caused by un-regulation (as the article above mentions.)