In the manic comedy Bait, Jamie Foxx plays Alvin Sanders, a hapless small time hood who is sprung from the slammer so that hothead Treasury agent David Morse can follow him to some $40 million in gold bullion stolen by his late, loose lipped cellmate. But when Alvin emerges reformed and ignorant of the booty's location, the Fed's attempts to lead him into temptation lead instead to lots of ''you can't cheat an honest man'' snafus, some painfully predictable heroics, and precious few laughs.