Julie Steinberg | Accounting for actions

It was busy last week on Capitol Hill and in Philadelphia. In one room on the Hill, the House Financial Services committee grilled eight banking chiefs on how they used their portions of the $700 billion bailout. Down the hall, a House Energy and Commerce subcommittee vainly tried to get some answers from Stewart Parnell, the president of Peanut Corporation of America, the company responsible for shipping tainted peanut-based products across the country. And at Penn, students learned of a dangerous infection overtaking campus.

Only in the last example, however, did leaders address the problem at hand. Both the banking and peanut industries have a lot to answer for, and their chiefs were summarily unhelpful when cross-examined. It was Parnell's refusal (couched under the auspices of the Fifth Amendment) to answer any important questions that rankled most. Far from embodying the leadership the American people deserve, Parnell reminded us that Enron's legacy is alive and well - say nothing, deny everything. Responsibility for actions mean nothing.

Knowing they have to answer to their clients or shareholders influences how CEOs shape company policies. And usually profit maximization and fiduciary duty coincide; after all, you want to make the most money for your shareholders. But when making money supplants delivering good service, as was the case for both of these industries, someone needs to be held accountable. Preferably the guys in charge.

Unfortunately, the notion of accountability was largely absent from those hearings. The bank heads had no answer as to where the bailout money went; Parnell wouldn't entertain the panel's concerns regarding the company's knowledge of tainted peanuts.

Documents released at that hearing indicate the top management were fully cognizant of the likelihood of a salmonella outbreak. When Parnell found out that the bacteria was present at one of the plants, he answered "uh-oh," and then proceeded to ship the goods anyway. Erin Brockovich, the sequel?

My favorite answer from the banking hearing was uttered by Vikram Pandit, Citigroup's chief. Acknowledging he had made a mistake in the plans to buy a $50 million corporate jet, Pandit claimed he understood "the new reality." But the evidence for this new postmodern ideal seems to be missing: Handing out millions in executive compensation speaks more to 2006-esque banking than it does to the TARP era.

It's arguable that hearings themselves are forms of accountability; the presence of the blue suits there to begin with seems to impart a sense of justice being served. But with hundreds of Americans still unable to see the tangible effects of the government bailout, it's frustrating when we encounter an inept reaction from leaders to legitimate crises.

In a welcome contrast to the drama on Capitol Hill, the University demonstrated a more-than-adequate response when it faced the beginnings of a meningitis outbreak this past weekend. Students received a cautionary e-mail about the first two cases on Thursday afternoon, and those most at risk were able to obtain antibiotics by Friday evening at Houston Hall.

This swiftness is commendable. No doubt in part due to the unfortunate death of Anne Ryan last year, the University was quick to dispense updates and drugs - a reassuring combination.

College freshman Ariela Mabourakh, who knows one of the hospitalized students, told me that though "there wasn't much that the University could do," she thought the administration did a "pretty good job" in diffusing the situation.

If the 2,000-plus students who stood in line on Saturday at Student Health are any indication, it's that the University was right to perhaps overreact. Critics contend that indiscriminately dispersing drugs could have been unsafe. But the presence of nurses at Houston and SHS, coupled with the rapidness of Ofiice of Fraternity and Sorority Affairs' decrees to cancel Greek events, reinforced the image that the University was doing something to combat the breakout.

Knowing that the University utilized all of its resources, even if some say overzealously, is much better than it potentially failing to take students' safety into account.

If the University extended this transparency to other arenas (say, for example, Lee Stetson's departure), it would guarantee the student body's faith in its operations. The same goes for the banking system - it's only when consumers have confidence in CEOs again that the financial sector will get back on its feet.

Julie Steinberg is a College senior from Boca Raton, Fla. That's What She Said appears on alternating Tuesdays. Her email address is steinberg@dailypennsylvanian.com.

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