An Alternative to the Bailout From a Recent Supporter

Let's be honest, right now our country and much of the world is in an economic tail spin. In these uncertain times we need quick action from our leaders to avert long-lasting economic disaster. Just in the last couple of days our leaders in Washington, D.C. have scrambled and come up with a solution--that is horribly wrong.
I don't believe that it is necessary to punish those on Wall Street, and I am not on e of those many Americans who pushed to grind the process to halt. I am actually on eof those relative few who until now agreed with the bailout. I was as necessary to maintain the market liquidity that allows all our other industries to function: short-term loans to stock grocery shelves and udgrade factories. I really thought at the time that the bailout was really the only way. Granted I did not want to give the Treasury unlimited power, but the general premise of absorbing those troubled assets seemed the only option.
Now I see how short-sghted I really was. I never bothered to think (just like congress) of how to solve the specific issue of allowing lending to businesses and industries. All the goverment would have to do would be to more completely take over Fannie Mae and Freddie Mac and through them offer safe short-term loans to those who really had nothing to do with the economic melt-down.
This one action alone could halt the collapse of our entire economy and quarantine the financial markets so that the failure of banks will not totslly freeze business for everyone. That said, we all must admit that this will still be a tough time for a lot of Americans. We are heading for tougher times, but they can be managable and lessened.
Now is a time where more than ever we need to help each other. Now is not a time to cut public assistance, more need it now than before; doing so would make the crisis worse.
Please, my fellow bloggers, comment and discuss this, for then we might find some real answers.