Obviously. This the obvious result of letting banks be the middle-men to every attempt at helping people, and refusing to regulate companies because that would

Obviously. This the obvious result of letting banks be the middle-men to every attempt at helping people, and refusing to regulate companies because that would "stifle innovation". "Innovation" in a bank usually means finding a new way to suck more money out of other sectors while staying just far enough on the right side of the law that the profits outpace the fines. The financial services we need, for the most part, already exist. You think people were clamoring for "overdraft protection" that doesn't tell them they've overdrawn their account, gives them the money, and then charges them $35? FSAs where any unused funds are kept by the bank and/or your employer? Housing loans that the bank knows you can't pay off, so the bank gets to take your house and get a government bailout? Would that we should stifle such innovation.