Unfortunately, the initial stimulus package was a bit rushed, and that's not necessarily a criticism. The Dow was in freefall, everything was hitting the fan at once (Bear Sterns, Wachovia, WaMu, Citi, AIG) and the government was looking to instill confidence in their ability to handle a crisis. Confidence is critical at a time like this. Quite often, a recession is a self-fulfilling prophecy, so it was incredibly important for the government to be perceived as being in control and able to handle the crisis. Therefore, they passed a package hastily without enough attention to the details.

Olivant, if I'm owed a commission from a landlord, and the building is sold to someone else, I assure you that I am not necessarily going to be paid by the new owner, even though he's going to reap the rewards of my labor. New ownership doesn't necessarily assume the responsibilities or agreements of the former owner.

Yes, the executives should give them back, or use it to pay back creditors, or whatever else might be perceived as a better use for the money. It's disgraceful.