"I was for the private companies running the security with very tough federal oversight, but..."
But, we've been there and done that. There has been a litany of FAA regs for airport security. Do a Google search on Argenbright and you'll find the story of a conglomerate who was the successful low-bidder, winning "security" contracts for airlines (i.e., United) at most of our larger airports. You'll learn how this company repeatedly thumbed their noses at the law, hiring screeners with criminal backgrounds, hiring illegal aliens, then dragging their feet when the government gave them time to clean up their act. The government's response? Argenbright is still engaged in the business of compromising our security. Only one of their clients, Boston's Logan airport, fired them. The feds are content to collect fines which are paltry sums to this conglomerate.
Just wanted to demonstrate how well private companies are doing at airport security in the face of stringent federal regulation.