Alright, alright. But what sort of accountability? That's the issue I've been trying to raise.Originally Posted by Papewaio
Fannie and Freddie were accountable. So were Enron or WOL. It didn't work because
- they got preferential treatment, and
- the oversight was lax/incompetent/corrupt
It is obvious that markets do not sufficiently regulate themselves voluntarily and that the State is usually a bad supervisor. So, how do we make the State a better supervisor without killing the benefits of private business?
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