You could argue the same thing for Detroit... if only they could devalue the Detroit national currency and print their way out of debt then they wouldn't have needed to go into default/bankruptcy and technically ruin their credit rating.
Or they could just settle on a budget that is actually sustainable and not have to borrow at a rate that is outpacing the growth in tax revenue.
When I say "corrupt" when referring to a body of government I usually mean systemically corrupt and not just the paper bag full of money under the table kind of corruption or the laundered campaign contributions or jobs for friends and family kind of corruption which corrupts individuals.
In the systemically corrupt sense the FCC itself is a corruption of a representative form of government in that it is a complete abdication of lawmaking authority by Congress and the President to a commission made up of people who have made big money in the industry they supposedly regulate and to which they undoubtedly expect to return to make big money especially when they are rewarded by the industry for the regulations they craft. So it is both systemically corrupt in that it is a corruption of lawmaking authority which should be held by Congress and the president and not delegated to an unelected commission, but it is also clearly individually corrupt with most of the commissioners deep in the pocket and beholden to the industry they regulate.