In 1958 at the dawn of the commercial jet age, the federal regulatory agency - the Federal Aviation Administration (FAA) - was created by President Dwight D. Eisenhower.

In its earliest days, about 53 million passengers boarded airplanes, compared to the 776 million in 2008. In 1958, FAA air traffic controllers handled about 26.6 million takeoffs and landings, a figure that has grown to around 44.1 million per year. The FAA's responsibility was defined as the safety, security and efficiency of the National Air Space System, according to an executive order in 2000 by President Bill Clinton.

Critics of the agency claim it has become so cozy with the airline industry that it has failed to police it. Security has been lax. With numerous delays experienced at nearly every major airport in the system, its efficiency is at issue. And despite a safety record that translates into only one fatal accident in 15 million take-offs, there are concerns that underlying potential problems are not being addressed.

According to a National Public Radio report last summer, some of those include runway incursions, an accident with two or more planes on the ground; fuel tank explosions; lax maintenance procedures; and pilots that are too tired to fly. These are all potential accidents waiting to happen, according to NPR.

While some change may be forced upon the agency, it isn't enough. Last year the lack of oversight and leadership by the FAA over faulty inspection practices at Southwest Airlines assessed a $10.2 million civil penalty against the airline. This came only after two FAA inspectors revealed to their supervisors, information about Southwest's failure to perform mandatory inspections on its fleet of 737's for cracks in the fuselage. Not only did FAA supervisors do nothing about what they learned, but Southwest tried to get one of the two fired for doing his job.

Inspection of the fuselage was mandated after the 1988 incident where an Aloha Airlines 737 had to make an emergency landing after the entire top of the plane blew off the aircraft in flight. One woman, a flight attendant, was killed when her body was sucked out of the hole in the plane.

In March of this year, the FAA settled with Dallas-based Southwest Airlines for $7.5 million - $2.7 million less than originally sought. The fine was based on 46 planes that logged 59,791 flights carrying 145,000 passengers nationwide, without mandatory inspections for fuselage fatigue cracking.

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