The American banking system is highly regulated in spite of some of the things you'll read here and other places. It's very hard to start a bank, and banks only

The American banking system is highly regulated in spite of some of the things you'll read here and other places. It's very hard to start a bank, and banks only allow some products because of regulation. The problem comes when the politicians slide into the back pocket of the bank execs who are all too happy to keep the status quo. In that respect the politicians are just as guilty as the bank execs.