Better yet, take $700 B and invest it all into upward mobility for the country, energy first, roadways, telecommunications, skilled job creation, exports and yes, domestic manufacturing. Reform the tax system and healthcare as well. Yes, we might have a depression but any would be short lived. If the bailout fails, you get a depression later in any event.
$700 Billion would pay for 400GW of nuclear power. 400 power plants. That’s enough to stave of recession and make us energy independent.
Go for it.