Banks Aren't Just Checking And Saving.

       Why is it that big banks always seem to be running afoul of the law? Take JP Morgan Chase for instance, but not only them. JPMC has two federal agencies after them currently. They've also been accused of seeking to hire children of Chinese leaders by ignoring their own policies in order to gain business. But then a good many other financial institutions are guilty of the same. Oops. I mean they are accused of the same.
       It seems like in the good old days, if there was any institution you could trust to be above reproach, it was banks. Oh there were the occasional mavericks who laundered drug money or other crimes, but mostly, after the debacle of the Great Depression, federal laws and watchdogs made sure that banks were trustworthy.
       But nowadays, since there's been so much deregulation, it seems banks and Wall Street firms can't seem to keep their fingers out of the cookie jars. Well, if that's the case, why did we deregulate the lending and banking businesses? Mostly because banks and Wall Street firms told us they really didn't need regulation any more. They had learned their lessons from the Great Depression and would not be making those same mistakes again.
       Ya know what? They were right. To a point. They did learn from their mistakes. The folks that screwed up in the thirties didn't forget. It's the folks from the 80s and 90s and 00s that forgot. But they didn't just forget the mistakes of the past. Oh no. They made up some new mistakes to make. Lots of mistakes. Banking is much more intricate these days. What with credit default swaps and the like, a whole new world of mistakes were opened up to them.
       They're still assuring us they won't forget their new, and old, mistakes and therefore there's no need of government oversight. New regulations will only add to the cost of doing business they say. Actually it's the mistakes that add to the cost of doing business, for everyone. When you continue to make the same mistakes and add new ones to the mix, these banks need more than just regulations. They need to be demerged. The definition of demerge is to break apart that which had merged?