Interesting article from the WaPo:http://www.washingtonpost.com/wp-dyn/co ... id=topnews
<quote>At least 30 banks since 2000 have escaped federal regulatory action by walking away from their federal regulators and moving under state supervision, taking advantage of a long-standing system that allows banks to choose between federal and state oversight, according to a Washington Post review of government records. </quote>
Obviously government regulation of the banking sector is needed, and now that grown-ups are in charge again, they'll really have to take the gloves off to get this industry under control. It's really disappointing that the leaders of such a critical industry consistently put the public good behind their own short-term gain.