I don't see where you get "government oversight is bad" from anything I said. I strongly believe that we should have strict government oversight of deposit accounts and that people should be able to have faith in the banking system. I don't think it's depositors fault that banks lobby to weaken this regulation and that the government goes along with it.

I agree that we don't know if the weakened regulations caused this - it's possible the regulators already had the tools in their belt they needed to prevent this and were asleep at the wheel. We will find out eventually.