[hsmyers]

In an ideal world what you say may well be true. In this world, strip-mining and clear-cutting argue otherwise. As one who lives in one of those western states mostly owned by the federal government and one with an over whelming republican government I note that even at that, no one is reckless enough to sell off (or even sue to gain possession) the assets that this represents. I'd point out that in the 'bad' old days, private enterprise created one of the largest hazardous waste clean up sites in the country. The notion that this would all be somehow different now, flies in the face of history... I may not trust the feds, but I most assuredly don't trust private enterprise.

[dpatru]

Immunity from liability (or limited liability) is a fundamental reason why governments and corporations are not to be trusted. When government officials, financers, and corporate (stock) owners are shielded from liability, they tend to take on more risk. An easy way to make them consider the risks is to take away their immunity.