If key figures at the federal reserve didn't (don't?) believe in the self-regulating power of a free market, that's nice, but this article still seems to suggest that said belief is still alive and well among highly influential figures in the economy, i.e. those financial lobbyists or their interest groups must either

a) Believe that a free market can police itself; or

b) Be so myopically hell-bent on the bottom lines of their interest groups that they're willing to recklessly sabotage important regulatory impediments to meet their ends.

Either way, a lot of powerful people could still probably stand to be admonished on the importance of well-enforced regulations, even if those admonitions are embarrassingly basic. Am I missing something here?