[ericd]

There are a many, many more axes for government performance than just equality of opportunity for people under it, though. Simply comparing the reaction of the government to the recent financial crisis to the past reactions makes it easy to see that something has been lost. In previous financial crises, significant regulations were brought to bear to patch the bugs. This time, despite some extremely significant structural problems that are easy to identify (complete regulatory capture of the ratings agencies and the SEC, for example), relatively little has been done.

[majormajor]

I agree that more should be done with regard to the financial crisis and corruption, but I'm also very skeptical of comparisons made in the middle of it, trying to answer the question of "how did the government perform during it" before the final outcome is known. I realize that that's an unsatisfactory answer in many ways, but government often moves slowly and I'm not sure that's a bad thing—i.e., I don't want the outcome of this whole mess to be the TSA of the financial industry.