Privatising profits, nationalising loses.
Don't underestimate this lousy, incompetent, self serving government's ability to chuck money around to buy votes to save its worthless neck. They're crossing their fingers that they can enrich themselves before the electorate wise up and boot them out. They're hoping they can pump enough hot air into a new housing/credit bubble by 2015 to disguise the fact that everyone except the rich is worse off.
Can't really blame them, it's what the country has voted for since 1979. Labour did more or less the same and Thatcher won several elections on the back of property/credit bubbles.