Sometimes Regulation is a Good Thing

     Most bankers don't won't anyone to know their business and certainly don't want to be regulated in any form or fashion.  They want you to believe they know best when it come to running the banking industry and protecting your money.  But sometimes regulation is needed, especially when it come to making sure the public good is  served.  Only when the government looks over the shoulder of the banking industry is regulation given any chance at all.
     Everyone makes mistakes, you, me and yes even bankers.  JP Morgan Chase, the largest bank in the land lost $3 Billion plus in a failed bit financial wheeling and dealing that would have never happened if the right regulations had been in place.  Such a large lose could have brought down the entire financial system if not for the fact that JP Morgan Chase has massive reserves. In reality JPMC makes an estimated $19 billion a year so a $3 Billion loss is not really a big deal to them but that loss will be passed on to someone.
     Banks are a special kind of business and should be regulated in somewhat of a  limited way but regulated they should be.  Financial panics caused by greedy banks can wreak havoc on the economy as a whole so they must be regulate differently from your Mom and Pop store.  The money bankers hold is backed by  tax payer guarantee. When banks make bets that go bad it is the tax  payer to the rescue so why shouldn't we demand their regulation?