Some day the government will learn that widespread, indiscriminate bailouts aren't the way to solve an economic crisis…

From Bloomberg:

Mortgages modified in the third quarter failed at a faster pace than those revised in the first, and the delinquency rate on the least risky loans doubled, signs of deteriorating credit quality, U.S. regulators said.

Loans modified in the first quarter fell delinquent 41% of the time versus 46% for those modified in the third quarter. The scariest statistic… prime mortgages that were delinquent after 60 days more than doubled in the fourth quarter to 2.4% from 1.1% in the first.

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