What did the US government and Federal Reserve decided to do

The US government in co-operation with Federal Reserve since December had pumped US$310 billions into short term loans to recover from credit crisis. On Tuesday Federal Reserve issued another $50 billion to cashed-strapped banks. This step was aimed to keep on going banking system as well as to keep up consumers confidence in it. Federal Reserve Chairman Ben Bernanke hopes that this is going to encourage banks to still lend money to people and avoid panic attack. Fed also encouraged investment banks to borrow directly from Federal Reserve by employing Depression-era provisions. Previously that was a privilege only for commercial banks. The biggest victim of the credit crisis became Bear Stearns the fifth biggest investment bank. Which was forced to sale it self to JP Morgan Chase & Co. One of the other Federal Reserve steps was lowering interest rate for those people on variable interest rates loans, but that move didn't actually change a lot because house prices are still going down. The money that people invested in housing are not going to come back quickly, by selling properties people won't get any profit and even in some case they are going to loose their money. Simultaneously US government started to lend money on lower interest rate and re-negotiating mortgages with banks. Banks have to lower mortgages because people are not able to pay them back, and as mentioned before Bear Stearns was bought by J.Pm Morgan Chase & Co. with $200 billion debt. US government re-write and add extra regulations on the Wall Street, to have bigger control over the stock market. It aims to prevent speculations on the market and intrus, as well as to exclude not reliable companies to enter it. Regulations are going to me more strict. In the first phase of taking out US from shallow recession government is going to cut taxes of middle and working class because government doesn't want people to stop consuming and spending. It would have huge impact on US economy growth.