$700 bn is only 14% of the $14 trillion of the Mortgage Debt out in the US market
A huge chunk of the problem is thus out in the open. With about $250 out to capitalise banks, there is not much of money left there. Money goes a long way & you can't really over emphasise the how far can $700,000,000,000 take the world.
In America you could buy Universal Health Coverage & pay health insurance premiums for all US citizens for six years.
In Africa fight hunger and poverty for 10 years. They only need $72 bn every year in UN funding.Pay salaries of 22 million american workers for an year.Finance Germany's annual budget (@$ 420 bn) for more than an year or buy Denmark (GDP less than $350 bn), twice.
This and so many other things that can be done with $ 700 bn are here. But we will end up spending it to pay the price of the asset bubble that has gone burst.
Life is not fair afterall.