Noooooo, I'm so sorry. Prednisone gave me type 2 diabetes as well. I'm told it should go away once the prednisone and it's effects are out of my system.
http://diabetes.about.com/b/a/000036.htm

this link is about Cinnamon capsules helping lowering blood sugar. I don't know if it will help, but I'm trying it. I just started a couple of days ago.

Has your doctor sent you to an Endocrinologist? They can be very helpful too.
I'm so sorry you're going through this. Your levels are very high. When they get up like that, don't hesitate, get in to see a doctor pronto..
Love lizzie

p.s. I forgot, the capsules are in addition to your insulin. Also, I'm told by some that they've had problems with the diabetes even though they stopped the pred.