Just thinking about the mess this country is in at present. Let me see, if I make bad decisions financially what happens? I get a bad credit score and have a hard time getting a loan. I as a regular person must pay near loan shark interest rates to get another loan. I say we put that $700 billion into a fund go through the investment companies and have those loans re-qualify. If they don't pass the test then the loan stays with the investment house that bought the bad paper. Let them write it off on their books. That would effectively separate the bad from the good and put an end to this mess. Yes I know this sounds simplistic but what other plan could you come up with to solve the mess? Oh yes and I want a decent rate of return on the money. We could sure use it to rebuild this country.
Let me add: A lack of planning on your part does not mean an emergency on my part.