If banks are going to be private then the regulation of them needs to be the inverse of what it is now. Regulation now is: You can do anything you want except X

If banks are going to be private then the regulation of them needs to be the inverse of what it is now. Regulation now is: You can do anything you want except X,Y, and Z. It should really be: You can only do A, B, and C and in the ways we tell you.