They shouldn't be, but we live in a world where banks are given special privileges and the regulators are supposed to make sure they don't abuse them. In this, albeit screwed up world I want the regulators doing their job. At the same time, and as the ultimate solution I agree with you - deregulate - but before that can happen we must remove the privileges. Then the regulators can go, and we let the banks compete in the market.
Of course, we will never see this happen because the banksters own the policy makers.
"When governments fear the people, there is liberty. When the people fear the government, there is tyranny." - Thomas Jefferson
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