So Crazy It Just Might Work:
I have an idea. Rather than bailing out Wall Street, why not bail out the middle class?
Use the 700 billion to pay down existing college loans and mortgages of single home families. If an individual has no college degree, use their share to pay their tuition. If they have no mortgage and no home, help them get established with an affordable mortgage. If their home and tuition is paid for, or they have more than one home, they don't need a bail out.
The credit and mortgage companies would be infused with cash to use for more loans. The middle class would be able to afford to pick up the tab, since we all know they are going to anyway.