> If one wants free enterprise and reap its benefits
who wants this from banking???
> one has to allow high profits for companies and see if competition takes care of the "problem"
ah, yes - we've seen this work so many times before!
You get that through competition for my deposits.
This is pretty uncontroversial basic economics...
If you're a healthcare provider in the US you often have to get a "certificate of need" to offer a service where a board full of competitors in the neighborhood determine if the neighborhood really "needs" this service:
> CON programs primarily aim to control health care costs by restricting duplicative services and determining whether new capital expenditures meet a community need.
Competition did nothing to stop industry alignment against consumer interests.
It's wild to imagine complaining about them being taxed but few complained about bails out from tax payers.
I'm sure there were a lot of complaints...
I certainly do. I like have lots of choices and banking is important to me. I also like innovative new banking products. I wish there was free enterprise in banking, it seems like we have an oligopoly, in the US at least.