Very easy question. There are people who profit from how <X> fails. The reason it bothers you is because you are not one of the people who are profiting. You might not be profiting from <X> but you are likely profiting from some <Y>. And when it comes to <Y> you are probably not recognizing how it fails on the cost of others and are not really bothered by it. So good luck convincing the people who profit from <X> to change it.
There are only 3 types of people: the poor that wants to be rich, the rich that wants to continue to be rich and the idealist, that using his ideals, wants to be rich.
edit: I always read it figuratively. Getting rich meaning to improve position in whatever hierarchy the person cares about.
This is great. It resonated with me because I guess subconsciously I've always had the intuition that this is true. However, I can't really find the original quote. Help?
No, but neither can we discount that they may be. Financial regulations in particular usually come about in response to failures and abuses.
That's the just-so story they tell children, but in living memory the only function of new financial regulations has been to exempt rich assholes from consequences of already-illegal things they already did and decided they want to do more of. One wonders if one went back in history far enough, would this aetiology ever be correct?
Lots of measures have been put in place in the last decade to prevent '08 style crashes happening again.
The entrenched interests want less regulation, not more.
I'm sorry if you don't want to hear it, but some regulation is good and put in place to protect the consumer.
People just don't seem to care how many times they get ripped off by WF. They don't move to the competition. They just stay there and take it over and over again. There is absolutely no incentive for banks to improve. Indeed, it is against the interests of big banks to improve the customer experience.