Lack of skin in the game is killing capitalism.

We've had 20-30 years of ever escalating bailouts. Heads: you win. Tails: the public looses.

"Capitalism", or rather the free market, works by moving from failure to failure. Without "Tails: you get taken to the woodshed", failure doesn't lead to learning and improvement. No amount of regulation will change that.

Quite the opposite: most modern regulation is so complex that lawyers can't get enough of it. Not to mention the revolving doors between regulators and their targets.

Same thing put differently: we already have socialism. It's just socialism for the rich.