Privatized profits and socialized losses, a solution?

Former Clinton Labor Secretary Robert Reich has a couple of ideas about how to address the current "untenable" cycle of taxpayer bailouts.

Here's a modest proposal: When taxpayers insure a giant entity against loss -- as we now are with Freddie, Fannie, and Wall Street investment banks -- those entities must agree that:

(1) for the duration of the bailout, their top executives cannot receive total annual compensation higher than that received by the President of the United States, and

(2) the government gets five percent of their current valuation as shares of stock (roughly representing the benefit to their shareholders of the federal insurance) -- so that if and when the entities become profitable again, taxpayers are compensated for the risk they've taken on.

I like the general thumbnail sketch of these ideas, they're certainly pointed in the right direction. There must be some consequences for operating your corporation in a reckless fashion and running it into the ground. There must be taxpayer protections and the idea of funneling profits back to the Treasury is simple and logical.