Politicians have different time horizons than the cities, provinces and nations that they govern.
It's not political suicide if the politician enriched himself at the expense of the public and is out of office when the consequences are realized.
Pretty sure the Fed has been spending trillions to keep asset bubbles from bursting.
So far it's been working, but also exacerbating social tensions and wealth inequality.
For example, Bush Jr left the economy in a mess but he was a 2 term president with no political future. So Bush Jr is fine, but Obama who was elected and who wants to be re-elected has to re-inflate housing and stock prices. That's why the housing prices and stock prices won't stay low for extended periods of time. That is until we arrive at the limit of our growth/expansion when no political or economic measure will do any good.