The derailleur hanger is the Achilles Heel of the bike. That's why they invented the replaceable hanger. Don't toss that frame. Instead, check into some Wheels Manufacturing Dropout Replacement Derailleur Hangers--there's probably one out there for your injured frame.
Hanger 25 Compatibility:
Item No. » WM-DROP25
Nashbar: $21.991 or more: $21.99