I wouldn’t describe this as corporate incompetence. I would say the corporation is functioning exactly as the bosses wanted it to. They got their market dominance, they got their assurances of bailouts no matter how much they messed up, and they decided to make as much money for themselves as possible. It’s a total success story, for a small group of people, as long as you don’t consider all of the damage that was done on the side.

Another way of looking at it is to say that the system is functioning as intended. It’s just that we wish otherwise.