Unless the bailout were completely funded by taxing the poor instead of the rich.  This is unlikely to be the case because progressive taxation exists in all OECD countries (even in the US, since taxation is even more progressive in the US than Europe, oddly enough), and any tax increases to pay for stimulus deficits will almost certainly have to come in the form of increasing taxes on wealthier people.  This means that bank bailouts effectively tax most wealthy people in order to bail out some wealthy people, so I think it is still is unlikely to affect the net distribution of wealth to the poor in the form of loan write offs.

it didn't use to be possible for individuals to save their home by filing for bankruptcy.

As far as I know, it's still not, at least in the US.  The home exemption means that other creditors cannot force you to sell your home as an asset to pay them.  Only a certain amount of equity is exempt.  The mortgage is a different story -- you can't discharge it in bankruptcy and banks can foreclose and take their asset back, although I think they have to wait until the other debt is discharged before they proceed.  

Maybe we can eventually make language a complete impediment to understanding. -Hobbes

I think the argument I'm trying to make is that whether or not there are specific provisions in bankruptcy laws that protect home-ownership rights above creditors' rights, the effective use of individual bankruptcy has always been to save people's homes.  Filing for bankruptcy allows individuals to be forgiven other debts in order to be able to afford to pay -- usually also under reduced conditions -- their primary, secured debt in their own home.  It's still a net transfer of wealth from creditors to debtors.  In fact, some recent US Fed research blamed popping of the housing bubble on the new bankruptcy laws in the US which made it more difficult for people to escape credit card debt by filing for bankruptcy (which meant they started paying the credit cards instead of their home mortgages, causing delinquency to spike soon after the new bankruptcy law went into effect).