I agree, banking regulations are the main problem with the banking industry, but banking regulations are mainly the result of banks lobbying for those regulations, to keep other players out of the market.

Regulations are just another imaginary problem, they are meant to solve things which need no solving and as such make the process bigger.

As I said in the last part of the article, I don’t think any individual is singly responsible for the banking industry, they just live and let live. But last time I checked there’s no large banking employee union that’s calling for removing useless regulations and, as a result, taking their jobs away.

Everyone ignore the inefficiency, the imaginary problems someone else is solving or creating, because they are afraid of being called out themselves.

Granted, I can see how the idea that most banking regulations are useless and the banking system is inefficient is maybe a bit too much on the “libertarian” side of things, and not anyone will agree with it, and as such the example is meaningless, but no example is agreeable to everyone.

I think the banking system is a good example, in that, many people will identify with it, since the advent of instant pay apps and cryptocurrencies has shown almost everyone how easy banking should actually be.