Woreking in the real estate industry for a few years now, I can see, on the surface, how this looks good. HOWEVER:

1) It troubles me that he either doesn't understand or chooses not to understand the conect of a "bailout".

2) Why wasn't something done over a year ago? It's not exactly a surprise that the housing market has been in a slump for at least that long, due in no small part to public panic.