Among the various prescriptions to fix the financial markets, the calls for regime change in the management ranks of bailed-out institutions have been largely ignored. The Obama administration’s approach seems to be: the people who got us into this crisis are the ones best equipped to get us out of it. The numbers behind the sheer lack of management change on Wall Street are nonetheless shocking. According to a new report by Emma Coleman Jordan at the Center For American Progress, 92 percent of the top managers and directors at the top 17 companies that received TARP funds are still in their same positions (hat tip to Barry Ritholtz). Coleman Jordan argues that those firms which took the most bailout money should be forced to include publicly-appointed directors. These directors, it seems, would function as part civic servant, part profit-minded manager. For better or worse, she claims, the lines between public and private have been inexorably blurred by the bailouts. Rather than relying on behind-the-scenes pressure from politicians, the government should force bailed-out companies to accept sweeping management changes. The directors, the report suggests, should be installed in rough correlation with the amount of bailout money they’ve […]