Voters don't like losing money, they hate losing services, and all the earnest explanations about fighting the good fight together won't put better food on the table or pay the bills.
With such a permanent, massive infusion of money, the process of liquidating unresuscitative loans could be undertaken in earnest, without bringing down the whole financial system.
Once the average Joe started using the Internet in earnest, things began to change at warp speed in the retail world of separating you from your money.