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I'm not sure that your assertion that regulated financial institutions are somehow safer checks out with recent history.

Remember the Bernie Madoff ponzi? Bernie Madoff was literally the chairman of the NASD.

The 2008 financial crisis occurred inside of heavily regulated markets, and it was so bad it nearly brought down the world economy.

The effectiveness of regulation vs. the friction it imposes is what matters, along with how (and if) it is enforced.

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