I've said it before and I'll say it again - the very best thing that could have been done for the economy was nothing at all. Period.
Why? Because all of this pumping money into the economy is going to end up doing more harm than good. Dollars are being created from whole cloth, which depresses the value of both the new dollars and the dollars currently in circulation - we'd have to spend the next ten years destroying three or four for every one we print to try to make up for it!
If the money is being created with nothing to back it up, the fluidity of the market is going to push it down even farther. Hell, China and the Pacific Rim are on the verge of calling in the markers they hold on us - which will absolutely cripple our economy! Ouch.
Further, bailing out these companies sets a very dangerous precedent. Sure, some of them were banks - but that's why we have the FDIC. FDIC was extended from $100K/depositor to $250K/depositor from DEC2008 to DEC2010, fine. AIG too big to fail? Let them prove it - if they stay afloat, they're too big to fail. If they don't, they were lying to us all along. Banks collapse? That's what FDIC is for - so at least the depositors are covered.
Execs can stop paying themselves so damned much - I've always had a problem with that (or with anyone else who makes more in a year than most people will ever see in a lifetime.) Reduction of executive pay will herald a reduction in consumer prices (on commodities, essentials, and medical needs,) which will encourage spending and circulation of the dollars we already have - without creating more and depressing the dollar!
I find it amusing to note that one of the strategies we employed against Nazi Germany was the wholesale counterfeiting of Reichsmarks - to the point where you almost needed a wheelbarrowful to buy one loaf of bread. That didn't work overlong, because their economy switched to barter at the local level, and Reichsmarks almost fell out of use.
Part of me thinks that our switching over to barter might become very useful - as it would cripple the monied/privileged few who got us into this mess in the first place (look at politicians - their sole commodity is jawbone. If they could do something else, they'd be off doing it. Jawbone is useless in a barter economy - but skills, talents, and the ability to fabricate useful goods are essential.)