Quote Originally Posted by Papewaio
At the end of the day transparency and accountability have to rise up. And if the private sector expects handouts, it should expect substantial strings attached. Not just to those who get it, but the entire sector so that the mistakes are not repeated.
Alright, alright. But what sort of accountability? That's the issue I've been trying to raise.

Fannie and Freddie were accountable. So were Enron or WOL. It didn't work because
  1. they got preferential treatment, and
  2. 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?