Oh come on. Did the regulation in the financial system protect  &quot;the customer&quot; against a massive loss of jobs and against having to subsidize a bailout of the entire industry in 2008? Did it protect people from banks who were betting against them(Goldman Sachs.)?<p>I have news for you all of these exotic and toxic investment vehicles that these investment banks cook up, largely  because a previous loophole was close are essentially high flying risky startups inside the context of the bank.<p>Deposits and retirements savings did not survive in the last financial meltdown and this had nothing to do with fintech, these were white-glove investment houses. So yeah people do want protection, protection against this established racket. The established racket is the largest offender.