Enforcing the transparency you advocate is the Achilles heel of this approach. The problem is the legislators involved in the process abet and enable the obfuscation corporations use to hide risk. Even if they were not the regulatory framework is a mess because new legislation is almost always a patch or an amendment to the existing structure.
In software we call a software system that has been patched and added to like that "spaghetti code" because changes start affecting unintended parts of the system. You often write about the unintended consequences of new legislation. It is the same thing.
To fix the situation you have to essentially start over with a fresh new version. The problem is that there are stakeholders that do not want this. So we keep limping along until some catastrophe forces change. We may be at that point but I do not see the kind of changes needed occurring yet.
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enforcement of transparency ... (as Chuck Simpson)
Enforcing the transparency you advocate is the Achilles heel of this approach. The problem is the legislators involved in the process abet and enable the obfuscation corporations use to hide risk. Even if they were not the regulatory framework is a mess because new legislation is almost always a patch or an amendment to the existing structure.
In software we call a software system that has been patched and added to like that "spaghetti code" because changes start affecting unintended parts of the system. You often write about the unintended consequences of new legislation. It is the same thing.
To fix the situation you have to essentially start over with a fresh new version. The problem is that there are stakeholders that do not want this. So we keep limping along until some catastrophe forces change. We may be at that point but I do not see the kind of changes needed occurring yet.