Online WSJ:

Meanwhile, the Treasury has clarified life insurers are eligible to participate in its capital-infusion program, provided they are or apply to become a federally regulated bank or thrift. A significant number of insurance companies in the U.S. would qualify as they operate banks or thrifts.

Motivations to participate range from strengthening balance sheets to securing a source of money for acquisitions.

If you're Big Money, all you've got to do is fill out an application to turn yourself into a bank, and the Fed will hand you taxpayer dollars! Come on down!

Hey, maybe that's how homeowners could get some help? Apply to become banks?

At least the Feds are finally considering something:

The Treasury said it hasn't made any decisions about new rescue [bailout] programs and offered few details about what areas policy makers are exploring. The report addresses the issue of trying to slow the record levels of foreclosures. "In particular, Treasury will continue efforts to ensure loan modifications are sustainable," said the report. A separate Treasury report detailing minutes of an Oct. 13 meeting of members of the Financial Stability Oversight Board suggested the Treasury is focusing on how to address ailing mortgages.

Whatever "sustainable" means. Bankers and mortgage holders are two sides of the same coin. As long as mortgages can't be paid, the balance sheets of the banks will never be clean (absent, I suppose, massive asset seizures). And if the balance sheets aren't clean, the "crisis" will never end. Of course, some would say the crisis will end only when it is no longer useful: That is, when there are no more shock doctrine measures to put in place.