it is my understanding that that $30B is just a loan

Its absolutely not a loan. It is a government guarantee (giveaway, bailout) of $30 billion to Chase to cover BS's losses. To be totally honest, not all of the $30 billion may be required, we don't know. But it is not a loan.

The ultimate irony is that in 1998 Bear refused to participate in the bailout of Long Term Capital Management, a Bear Stearns client.

BTW I am not saying that I am opposed to the BS bailout. I believe it was the right thing to do. But I also favor a $15 billion dollar bailout to keep hard working families in their homes and from neighborhoods from being decimated by foreclosures.

All Ameican homeowners are not speculators and flippers. And a lot more speculators (BS accounts, BS investors, other firms) were protected by the BS bailout than that $15 billion will cover.