Mike, IMHO the bullies demanding bonuses should be publicly named and shamed. Lets see the major rags dedicate a page every day to mugshots and rap sheets for banking geniuses along with the bonus they are demanding for their role in the near disaster. and maybe 5 minutes during TV news every evening for the "Hall of Shame." It wouldn't hurt to mention words like "fraud" and "negligence" as well, words that may be need to be tested in Court in due course. Probably some negotiation should have occurred before the bailout (written voidance of bonus or written resignation, please) but if the contracts are cast-iron, all you can do is shame them and make it clear that legal entitlements are balanced by legal obligations and that those who demand the letter of the law can expect to face it in turn.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us."
-- Shakespeare: Coriolanus, Act 1, scene 1