Hypothetical, and probably more of a making/taking a jab at Republicans
I knew you'd say that....because *everyone* on the right is saying the same thing.
But not based in reality either. That's the main reason I linked to the website I linked to actually, is because it's politically centred.
Learn the AllSides Media Bias Rating of FactCheck.org. AllSides rates the media bias of hundreds of news outlets, media sources and writers.
www.allsides.com
Facts are facts regardless if they don't fit your desired political viewpoints. I'd suggest actually reading the story I linked to above in it's entirety, not just dismissing it as a "democratic hack-job" because you support the US Right.
Stupidity and weak management killed these banks. Regulation doesn't pretend to protect against those things.
Actually, protecting against companies making reckless, dangerous, stupid, or greedy (amongst other things) decisions is
exactly one of the things regulations do.
Can you imagine the automotive industry without regulations? Companies would be pumping out maximum profit total shitboxes that don't adhere to any standards for crash safety, rollover safety, etc etc etc. Go take a look at how a lot of cars made in India fare in crash testing if you want to see a mostly unregulated auto industry in all it's glory. Anyone remember the Pinto? Regulations ensure that sort of fiery death **** doesn't happen much anymore.
The trucking industry? It's bad as it is with all the regulations it currently has...can you imagine if it was a free for all?
Aviation? The safest mode of transportation in the world because it's HIGHLY regulated.
Electrical? Do you care that things you buy and plug in don't have a habit of killing you, and the wires in your house don't have a habit of catching on fire and buringin your house down? You can thank regulations.
Water systems? (Walkerton, anyone?
New regulations were put into place to replace weak ones that actually killed a lot of people...)
I could go on...and on....and on. Our whole society is glued together with regulations that make our lives better and safer. Including banks. And the reality our banks are more regulated than US banks is one of the reasons why we magically don't seem to have these problems while the USA has, on average,
a bank failure every 3 days.
Think about that.
EVERY THREE DAYS.
Want even more sobering numbers? Look at the list of all the USA banks that have failed dating back a few decades....
So yes, I'll have to respectfully disagree on your statement that regulations don't work or don't "protect against those things"