Quote - 1.  There's no guarantee that the lawmakers are going to be any less corrupt than the individual institutions (aka congress for letting this happen in the first place).  In fact by giving them more power, you are making washington a more attractive place for those individuals who are corrupt.  Basically you are begging for more corrupt people to run for congress and more lobbiests in washington.

2.  There's no guarantee that whoever is running the institutions are going to be competent (a la the initial botched Katrina recovery).  I mean is anyone on the finance or banking committees trained as bankers or economists?  If they aren't who's giving them their info on which they base their decisions, the people at fanny mae?  The people who need to run these companies are people who know how to manage wisely in that field.  If you put it in the hands of politicians, the banks will be run by politics, lobbiests, and just as much greed as before.

Excuse me, but what are you saying?

There's no guarantee that the wealthiest, most powerful, and most ruthless won't rob you blind and enslave you without lawmakers, government, and corrupt institutions either.

There are no guarantees in life. Period. So what? Welcome to reality. There are no perfect solutions to anything. Nothing can be guaranteed. Ever. But it's hardly an argument for or against doing anything.

The whole point of regulation is to keep a balance between competing power-grabbing interests, i.e., keep them occupied and at each other's throats most of the time instead of focusing 100% of their attention on cutting yours. The whole point of trying to have and maintain a somewhat representative government with a little regulatory muscle is that at least there's the possibility you can vote the bums out of power. That's the whole point of government establishing and enforcing guidelines by which business should be conducted instead of the other way around, i.e., at least you might be able to vote the politicians out of power when you don't like the way they are doing things. Just try voting the billionaires on the boards of directors of the international bankers and corporations out of power sometime. Just go ahead and try.

It's all about balance, and things are waaay out of balance. Or hadn't you noticed?