America is no stranger to corporate scandals. In the 19th century abattoirs sold rotten meat.
In the 1960s Detroit made cars that were "unsafe at any speed", in the words of Ralph Nader, a consumer-rights crusader.
In the 1990s tobacco and asbestos claims led to legal settlements that have cost shareholders over $150bn.
Accounting scandals erupted at WorldCom, Enron and Tyco in the early 2000s, and by the mid-2000s mortgage fraud was endemic.
Today's crises are diverse but have common elements. The firms tend to be established, with dominant market positions.
Outrage infuses social media and Congress. And yet the financial cost has been limited.
Take a sample of ten big American listed firms involved in controversial episodes:
their median share price has lagged behind the stockmarket by a bearable 11% since the event, after adjusting for dividends.
Although Boeing's shares have lost 8% since the crash in Ethiopia, they are above their level in January.
The crises have caused bosses to stand down in only two of the ten cases: Wells Fargo and Equifax.
Some adjustments to bosses' pay have been made. Goldman says that some ex-executives' share awards
could be clawed back depending on the probe into the Malaysia incident. Equifax says cyber-security is now factored into its pay schemes.
Nonetheless, for the ten firms the total pool of senior executive pay has risen over the four most recent years, to almost $600m, according to Bloomberg.
For critics of capitalism none of this will be a surprise. They argue that firms controlled by private shareholders are especially unethical.
Yet it is easy to poke holes in this. Volkwagen cheated on emissions tests even though it is part-owned by the German state and has workers on its board.
Despite Sweden's cuddly "stakeholder" capitalism, Swedbank faces a criminal investigation for money-laundering.
An alternative explanation is that American capitalism has got out of kilter. It has always been restless and dynamic.
Companies test the boundaries of what is possible—and permissible.
Tech firms are just the latest to "move fast and break things", to use Facebook's unofficial slogan.
But three forces have long constrained corporate conduct: regulation, litigation and competition.
The aftermath of the financial crisis saw a storm of lawsuits and fines on banks.
But since then each of the three forces may have weakened, increasing the incentive for firms to take risks.