>>>>OTOH maybe have no banking regulation at all. Let the buyer beware. If a deal looks to good it probably is.

Just had to jump in here: the next marketing strategy is to make a lousy deal cost like a good one.

>>But maybe the danger is that the user (You and I) assumed some level of safety and competence and regulation. If Banks came with a big health warning like a packet of cigarettes "Warning this financial product may lose you your job house and lifestyle".
>>
>>Lets go the other way banks should be boring not for profit organisations run by government solely to take deposits and lend at a reasonable rate.
>
>My whole body is twitching from going on agreeing with Jake <g> but I think he was right that the system we had in place worked well for decades.

You mean, the decades during which it was regulated?