Bailout Madness

Here's what's on my mind about the bailout:

• Cut out all executive bonuses for companies receiving bailouts. Don't encourage them to stay. Of course companies will say that bonuses are part of the comp plan. The companies we're propping up are failures, by any reasonable market measures. So encourage executives who have talent to find other jobs and help other companies or start new businesses. Isn't that supposed to be the upside of a downturn?
• Pay reasonable interest rates on savings accounts, including CDs. Tell the financial institutions to pay, oh let's say 5% on savings accounts under $50,000. This will encourage more savings and make more money available for local (read: housing and small business) loans. Use the bailout money to make up the difference between what banks are currently paying for savings and the target rate.
• Set a cap on total union benefits. Many public workers make more in total compensation in retirement than they did while working. And union workers in the private sector aren't any better. Let the unions negotiate a reasonable hourly wage. Then set a maximum cap of some percent of that money and tell the workers: you can take it to buy current benefits (health, vacation) or future benefits (retirement) or both. But once you reach the max, you're on your own. No lifetime benefits. And no double-dipping. How's that part of the bailout? It reduces taxes and cost of goods and puts more money into the economy.
  

That's it. That's my list.