Bob, I wish I could believe that CEOs will actually learn from the mistakes of their peers, but history has proven this to be largely untrue. And with a federal government so willing to prop up institutions in our faux free market economy, what, precisely, is the incentive to genuinely succeed? Companies such as AIG and CITI have demonstrated that even catastrophic failure is rewarded handsomely.

Until the penalties outweigh the incentives, we’re unlikely to see genuine change in any industry.