Calling the arsonist to put out the fires!

I've blogged before how the the Treasury Secretary Tim Geithner, Ben Bernanke, Larry Summers all have to be fired since they have massive conflicts of interest - have taken money from Wall St firms - and now have returned to govt andor have blind faith in the markets ideology.

Plus, they have demonstrated elephantine incompetence by not recommending more stringent regulations.

Good governance requires nay mandates transparency and accountability (meaning punishment for those who violate the law or indulging in corrupt practices).

Where there is poor governance there shall be corruption as we see in the US and a drag on economic development.

Refer to these two excellent articles on the principles of good governance. The second is from the Commonwealth.

Point number 3 which applies to the US regardless of administration Democrat or Republican is worth highlighting.

3. Corruption, which is multi-dimensional, generally occurs at the nexus between the
public and private sectors, with actors in the private sector interacting with holders of
offices of trust in the public sector. Some aspects of corruption such as fraud and the
misappropriation of assets or funds can occur entirely within the private or public sectors.
However, with increasing privatisation of public utilities and services, the distinction
between the public and private sectors is becoming less relevant in some areas.