90 Day Moratorium on Foreclosures in California -- Is it a good idea?

Well, I look at this new twist on keeping people in their homes and the non realtor/regular person thinks maybe it could be a humane way of dealing with the nastiness that we've experienced here in California.

However, the realtor/business person in me wonders what will really change in 90 days? Will the borrower be in a better financial position to be able to afford a home that shouldn't have been purchased in the first place? Will the lenders really try to "cut their income" and work with the borrowers on loan modification?

What do you think? Good idea or bad idea?