It is a valid analogy, because it confronts reality: there are a huge number of persons with economic incentives to commit immoral or illegal acts, and the state doesn't have the capability to intervene in a majority of cases.

I mean, hell, look at SOX. Look at the various anti-money laundering requirements that banks are subject to. The de jure approach here in the world today is to force the corporation to police its own staff and customers.