I always find it interesting that so many people believe that deregulation of the financial system contributed to this mess. The financial system is the the most heavily regulated industry in the US and probably the world. We can’t even choose our own money for transactions. Moreover, these regulations are written by bankers and former Wall Street executives. Why on earth would any rational person then believe that the purpose of these regulations is to protect the citizens from greedy executives when said regulations have been drafted by greedy executives?
The sole purpose of any regulation is to establish and maintain monopolies.