Former US Secretary of Labor and current university professor Robert Reich states the obvious: rather than bail out terminally irresponsible banks, we ought to focus our priority onto the US’s rapidly sinking education system.
This is certainly an excellent proposal, even if it’s more of a fantasy than anything else at this point, and I also agree with PZ Myers in this:
One additional requirement, besides diverting reasonable amounts of money into education: demand improvements in quality. Not this misbegotten accountability of No Child Left Behind, but shakeups in how school boards manage budgets; remove the elected officials from the business of dictating pedagogy and content, and let the qualified professionals design curricula that actually works.
Again, though, I suppose it doesn’t hurt to dream.