Why not solve the mortgage crisis by giving money to homeowners?

[guitarist]

"So, instead of the massive moral hazard -- and general unseemliness -- of putting taxpayer money on the line to bail out Wall Street banks and brokers at the top end of the pyramid, why not aim at the broad BASE of the pyramid?"

http://www.concurringopinions.com/archiv...n_the.html

(Check the reader comments, too. The main objections to this proposal question the wisdom of punishing responsible homeowners who paid their bills and avoided risky loans, rewarding those who didn't. It's an interesting discussion)