Who Needs Regulation Anyway?

In 1933, during the Great Depression, Pres. Roosevelt signed into law a bill that required banks to stop selling securities. That was nearly eighty years ago. It pretty much stood for seventy plus years. But with deregulation came the Great Recession. Now back then the banking industry screamed bloody murder claiming it would be the end of banking. Sound familiar? Yes boys and girls, regulation is the ruination of our world. Regulation will cause the cost of living to triple, at least. We'll have to have death panels and all that sort of thing if we allow regulation of anything, including sports and mom's apple pie. The thing is, we don't need regulation because banks and Wall Street and Corporations of all stripes know how to regulate themselves far better then any bureaucrat. And we see proof of that every so often when a peanut factory is caught selling tainted peanut butter and killing people, or giant ponzi schemes go undiscovered for years by companies who know it's happening the whole time. Yes, it's true, we don't need regulations. What we need is a new law that says any company that breaks the law automatically belongs to the government and all of it's management and board of directors go to maximum security prison. That should cover the subject. The problem is that for such a law to pass through congress, it would be saddled with  several thousand amendments all designed to make the opposing party refuse to sign the law into effect. But that's a topic for another discussion. Except that those amendments are also what's keeping regulations from being reenacted. Ain't politics grand?