Largest GOV'T bailout EVER!!!

WOW!!! I always watch the news; I don't have that much free time so whatever time I do have usually gets spent on watching news channels. I had been following the news on the GOV'T bailout, and had heard numbers being floated back and forth ranging from hundreds of billions to even slightly over $1 Trillion dollars. Finally, this morning the Los Angeles Times reported that the bailout would cost tax payers $700 Billion; apparently, according to most economists this unprecedented move was as necessary as it is outrageous. I guess we should just be happy that saved about $300 billion right? Now there's talks about bringing back a new version of the RTC (resolution trust corporation), or MFI if John McCain becomes president. This could be good if the bad debt the RTC/MFI/or whatever they decide to call it, appreciates in value and the government can later turn around and sell it for a profit. It is a bit of a gamble, but since it worked for the S & L (savings and loan) industry in the past there is hope that it may work again.
I understand that this bailout may have been necessary, but it sort of brings other issues into the light. How is it fair for thousands of workers to loose their 401 K's and stock options and jobs, but the CEO's get multi-million dollar severance packages? This is not the free market operating at its best. Government intervention of this magnitude should also not be necessary. I understand that the market is not actually 100% free; rules and regulations are needed to try and maintain a somewhat level playing field. I also don't think this is a time to let our emotions and fears takeover and begin to regulate everything; this would essentially lead to socialism. Many people were even drawing parallels between the US government takeover of AIG and the Venezuelan government takeover of the Shell Gas business. So what do we do? Try to stay calm, focus on long term investments, and ride this thing out. We've gotten out of these messes before. Oh, and don't panic; Money market accounts will be government insured at least for the next year and they may even raise the FDIC amount to prevent bank runs.