This bailout getting shot down is nothing but good for our country.
The problem could have been stopped years back, but the very people preaching this as a deregulation issue are the ones who shot down a proposal to reign in the two big "affordable housing" agencies when their corruption was brought to congressional attention.
Fox's take on this.A more useful explanation (Not as pretty, but a lot more useful)
And quotes from people who are involved most directly.An interesting illustration of a very good point. You might prefer this treatment. Sorry, the video link stopped working, but that was on YouTube's end, and not my own.