Are we bailing fast enough?

700 Billion dollars!!! I can not even wrap my mind around this number. The more and faster Uncle Sam pours money into failing company's , the faster the boat fill with more water.
Maybe its time to fix the leak, and stop bailing? Good information in this months
Economic Focus;

Volume 12, Issue 43
For the week of November 24, 2008
ENTER THE NEW GUARD
With Congress and the current Administration concentrating their attention on big Wall Street players and the Auto industry, other sectors of big business are lining up with tin cups vying for "their" share of the bail-out funds.
The thing is this whole financial mess was created by loose mortgage lending standards adapted at the government's insistence. Practices that continued with little government oversight and escalated into the international whirlwind we now have.
Now, Washington is rescuing the Wall Street and other financial intuitions and investors that have been disrupted by the mess but continue to overlook the housing industry that has propped up the economy for the past decade plus.
Enter the new guard
President-elect Barak Obama is floating intentions to appoint New York Federal Reserve President Timothy Geithner to become his Treasure Secretary. Geithner, who is Barak Obama's age, has been a crucial player in the government’s attempt to cure the credit crisis.
In the meantime, FDIC chairwoman Sheila Bair has proposed a plan for troubled mortgage holders.
Bair was appointed by President Bush to a five year term as head of the FDIC. In July the FDIC took over the bank IndyMac and has been unwinding thousands of their loans. Bair proposes this model for mortgage modifications nationwide. The target is to lower existing interest rates and/or extend amortizations.
Under this plan home loans would have to meet FDIC conformance limits, which would exclude more expensive homes. If the borrower defaults on the new loan, the FDIC would share up to half of the losses with the mortgage lender.
This is a large number but currently there are 7.5 million homeowners who owe more than their homes are worth, with another 2.1 million following if home prices decline another 5 percent.
According to First American CoreLogic, a data tracking service, in 3Q08 nearly one in five homes went upside down.
It is estimated that interest-rate resets will equal $30 to $50 billion a month in 2009 through 2011.