I'll buy a big house to put 'em all in

I think I may be having some problems with the English language, because I continue to have problems understanding what in the world people are talking about, and why our media, when they're not responsible for the perceived non-sequitur in the first place, doesn't follow up to figure out what is going on. So I'm thinking that it must be me.

So today, George Bush says this in reference to the growing banking crisis, following the collapse of IndyMac Bank (Member FDIC, slogan: "Raise your expectations") and the meltdowns of Fannie Mae and Freddie Mac:

And by the way, the decisions on Fannie Mae and Freddie Mac -- I hear some say "bailout" -- I don't think it's a bailout. The shareholders still own the company. That's why I said we want this to continue to be a shareholder-owned company.

So apparently a bailout is not when a failed business is propped up by the government so that the shareholders of that failed business don't lose out. Just so we're clear on that.

And just to square the circle, apparently IndyMac Bank was formed by Countrywide Financial--which was just "bailed out" by Bank of America--as a way to collateralize Countrywide mortgage loans that were too big to be sold to--yes, you got it--Fannie Mae and Freddie Mac.