WSJ Finds Failure in Citi's Assumption of SIV Liabilities

Dec 15, 2007:
"Citigroup's bailout of seven investment entities effectively killed one of the centerpieces of the Bush administration's approach to fix the mortgage crisis. If other moves fail, Congress could take a much more aggressive approach."

Citi found itself with sufficiently little need to use the super-SIV that it auto-bailed itself out. Is this a failure of a centerpiece policy or evidence that things aren't bad enough for the super-SIV to be needed?