Heads, speculators win; tails, the rest of us bail them out

I wonder if the same government contractors who under-estimated the costs of the "Patient Affordability Act" are also designing the housing industry bailout:

The Obama administration will extend mortgage assistance for the first time to investors who bought multiple homes before the market imploded, helping some speculators who drove up prices and inflated the housing bubble. ...

Landlords can qualify for up to four federally-subsidized loan workouts starting around May, as long as they rent out each house or have plans to fill them, under the revamped Home Affordable Modification Program, also known as HAMP, ...

Anticipate moral hazard, lest you be victimized by it.