Anyone who has ever stumbled across public choice theory will be familiar with the Parkinson's Law type arguments - that public services tend to be captured by budget-maximising bureaucrats.
These faceless thieves allegedly cause the services concerned to decline into a mire of inefficiency that defeats the purpose for their existence.
Now here's a question: Are corporations dominated by bureau maximising bureaucrats to a greater extend than public services? Reading this, you could conclude that they are.
Next question: Are banks worth anything? Chris follows up his question with arguments for a 'state bank' - after all, if they socialise their risks.....?