Larry,

Although Derek is right, fixing CMU foundations is like putting salt on road
apples, I would really be surprised if the entire basement would need
"replaced". Rather it should be repaired and properly waterproofed. If
replacement was the plan, it should be cast in place concrete. If hydraulic
pressure and ensuing frost heave are unavoidable (unlikely) then installing
bond beams during the repairs would help.

My problem with the sweating, rusting steel jury rig is anybody who knows
foundations will say "What the hell are these?" when the real estate agent
is trying to pick their pocket. Maybe if you wrap 'em in duct tape or wax
'em it would help?

Woody 

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