No top executives of major banks were prosecuted for the financial mess witnessed over the past decade because politicians and corporate banks regulated the market to protect themselves while placing the risk of investment on the shoulders of citizens and future generations.
How is this possible? Are regulations created to protect the consumer?
The answer is no.
The housing regulations enacted over the past few decades were and still are an attempt to force the world view of a handful of politicians upon an entire industry, and in exchange for this the industry was given a means of shielding itself from the responsibility to act with reason and caution. Read more