A
misconception from the media that most of the public gets is that we
need regulators at banks, so the latter won’t trade for their own
accounts and possibly lose money.
But
the giant banks already are constantly under watch by
regulators. There are full time, on site regulators at the big
banks.How many shoulders are there to be watched over by a further
army of these folks who are no smarter than the ones being dutifully
watched. (See the Earl J. Weinreb NewsHole® comments.)
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