I guess you didn't notice that unregulated and under regulated financial instruments were a big part of the near collapse of the US economy in 2008.
Do you really want to make the very same mistakes we made in the 2000's that we did in the 1980's which led to the Savings & Loans meltdown? Anyone who wants that particular history to repeat itself YET AGAIN is either on drugs or being paid by the bankers who really would like to repeat history.
The government has been either cause of many economic issues or not doing it's job, so lets retreat to the 19th century would be the best idea.
I will point out that the bankers are not missing. They could be leading the charge to fix stuff. They are not. They are waiting and building piles of cash to benefit opportunistically on the failure of their peers without taking significant risk.
THe argument of "let the bankers do more of what they have been doing" is just as flawed as the argument of "let the government do more of what hey have been doing".
I will also point out the fed is made up of private bankers. So....
thebaron
The feds have done such a wonderful job that the job is just flying high right now (only if you are on drugs) or an obama's backer....