Precedent, yes. Agreed.

We also bailed out Bush & the Savings and Loans. And bailed out the Aerospace industry with the B-1 Bomber. And bailed out Trent Lott with a ship no-one wanted or needed. And we funded the Contras. And trained and funded Bin Laden!

Existence of precedent doesn't necessarily mean its the 'right' or logical thing to do.