I could not agree more about the importance of accountability and how the lack of it has turned the management of big financial institutions and other major corporations into a free for all.
Communist systems of government suffer from a this same failure of responsibility. If a nationalized business is inefficient and fails to produce, who cares? The government will simply pour increasingly worthless yen (as in the case of China) onto the problem as Government supported banks prop up everything from construction companies that are unable to build a viable national infrastructure to manufacturers turning out contaminated baby formula to corporate polluters who pour so many toxins into the air over Beijing that birds fall dead from the sky.
Capitalist countries are supposed to be better than that. Yeah, right.
It's all a part of the continuum of government sponsored disasters from small to large which seem to be occurring in countries all over the globe. The fat cats get pay raises, stock options, or at worst; golden parachutes - all as a reward for their greed, irresponsibility, and inability to run so much as a lemonade stand, never mind an outfit like Goldman Sachs.
The rest of us are still struggling with high unemployment, low wages if we are lucky enough to still have a job, and a highly uncertain future.
"Too big to fail" is simply Orwellian double-speak, not a viable governmental policy.
