Wall Street Welfare

George W. Bush is not exactly known for his magnanimity—think SCHIP. For American homeowners, especially those facing foreclosure, his aversion to government assistance programs must be particularly vexing. Last year, Bush declared that government should not "bail out... those who made the reckless decision to buy a home they knew they could never afford." Recently, he has decided that his modest tax rebates for families and businesses are adequate help for squeezed homeowners, and he opposes legislation in Congress that would provide more support.