Anyone who believes that banking regulation isn't needed is just stupid. I'm sorry that there isn't a nicer word for it, but I'm going for accuracy and that defines the word "stupid". The current state of our economy is living proof that such a position is complete bull**** and I really can't believe that people would even publicly take that position, much less believe it. It's documented fact that deregulation of the industry led to the shady practices that caused it. That's like claiming the world is flat.
banking regulation can surely be done by private accouting firms. when they fail to approve of the bank's practices, we can move money elsewhere. most folks i know moved their money from shady investments before the housing collapse, which seemed inevitable to sane folks. prices for hings dont go up forever.
