I think educating the average consumer is a good and lofty ideal that we should aspire to. I think that in practice it is not realistic. The truth is that aro

I think educating the average consumer is a good and lofty ideal that we should aspire to. I think that in practice it is not realistic. The truth is that around 99 percent of people would prefer regulations that protect their interests to the time, effort, and cognitive overhead of educating themselves about the arcane workings of banking and finance. Ultimately it is probably more just to cater to their interests.