Progressive Corporatism: coming soon to a government department near you

Where the Americans lead, so we will follow:

Remember, when a private company wants to cover up billions in losses and the responsibility for them, that's a major scandal and proof of the evils of capitalism. But when a government regulator does the same thing, that's just how people are, these things happen, whaddyagonnado...

Scary, scary stuff. And something to bear in mind when you see what the government does with our not-at-all-nationalised banks.