The whole point of this article is about crony capitalism.
Corporations, meanwhile, are not supposed to wield disproportionate power over the laws and regulations. Separate issues.
Works well for the US financial sector despite claims to the contrary
That is precisely what happens in practice though. Referencing the thousands of people killed by police in the US every year, with little to no accountability (who is to hold them accountable?)
Our government in general and our law enforcement specifically are very much out of control in many ways, but that is not an inherent state of affairs.
At least the [elected] government is under the responsibility of its citizens, while corporations are only responsible to their shareholders.