In today’s “Political Diary” (sub. req’d.):

Washington’s dilemma is that, with taxpayers still on the hook for $29 billion (reduced from $30 billion in the new terms), any hint that Bear’s wealthy owners and bankers are being bailed out with a richer share price would be politically embarrassing. Happily, there’s a natural solution: Remove the guarantee altogether. With liquidity-driven insolvency off the table thanks to the new discount window policy, the deal no longer needs the additional Fed support. It’s even conceivable, as the haggling continues, the acquisition could be unwound and Bear restored to independent existence.
Washington’s response should be simple: Negotiate any deal you want, but not with taxpayer money.

Works for me.