Look at the PBGC in the US and the rampant abuse (socialization of the cost of "mild" white collar crime - shortfalls that hit well after the fact due to purpos

Look at the PBGC in the US and the rampant abuse (socialization of the cost of "mild" white collar crime - shortfalls that hit well after the fact due to purposefully but mildly underestimating future liability and overestimating future returns) for the other side to the outcome described in the article. Financial regulations are hard. It is like infosec, where you have well funded adversaries who are sometimes criminals.