As many of you know, the Senate passed their version of the Home Loan Aid Bill, a $300 billion mortgage bailout on Friday. This doesn't actually mean anything just yet, even in pure perception, because it still has to be merged with a House version, and finally signed by the President, who has said he will veto it in no uncertain terms.
Notably, this comes on the same day Feds seized control of IndyMac, a bank with $32 billion in assets, due to bad lending practices leading to it's demise.