Wall Street: I have a plan

We are going about this all wrong, and here's what we should do:

1. Refinance the defaulted mortgage loans at a reasonable fixed-rate.
2. Give the $700 Billion to the taxpayers. It would amount to somewhere around $10,000 per family. The taxpayers will be able to get caught up on most of the loans or get caught up on their finances in general. Ergo, the money goes into circulation and people keep their homes to boot.
3. Regulate Wall Street like a super-max to keep the crooks honest.

I mean, really, if we are going to have to borrow and spend $700 billion due to failed mortgages, why not give the money to people who will spend it and put it in circulation. That little $600 stimulus check was merely a drop in the bucket, let's give people some REAL MONEY!

Hell, $700 billion is $700 billion any way you borrow and spend it, let's let the people who will have to pay the tab do the spending. At least that way, we know where the damned money goes. It's a whole lot better than bailing out the fat cat Wallstreet tycoons.
And believe me, we the people WILL put it in circulation!!!