The private sector should be held to the same standard of scrutiny that the government itself receives from the people, and corporate governance should be as much a matter of public debate and law as political governance.
Shareholder season is upon us, marking the beginning of another round of corporate America's dog-and-pony shows held to placate their cronies and pat each other on the back for another profitable year.
The easing of regulations, which permitted financial institutions to become the behemoths they did, is partially responsible for this mess. But I say "partially" because that is only one part of the problem. The other part is the lack of personal accountability on Wall Street.
It's easy to blame technology, especially the automation that supposedly displaces workers. But that's not the real story. The fact is that automation creates jobs. It's the misuse of corporate profits that is destroying them.
It's not a fun time to be an American taxpayer. There's nothing quite like learning that CEOs from some of the biggest banks your hard-earned money helped bail out made more last year than their firms paid back to Uncle Sam.