Over at
Blah3, Invictus had the best suggestion I've seen for a lot of the mortgage problem -- let people take an emergency, one time withdrawal from IRAs and 401(k)s, interest and penalty free, with no repayment clause, for purposes of rescuing their homes from foreclosure. This would not be a loan, but a redirecting of a person's assets, and it would cost far less than any other kind of taxpayer bailout.
It would be nice if Congress at least considered something rational rather than immediately trying to decide how the rest of us should rescue people in big houses while we live in small apartments.