> GFC in '07 had wide ranging negative effects for a lot of people who had nothing to do with investments in mortgage backed securities

GHC '07 can be directly traced to a (in retrospect) failure of regulations AKA the government AKA "we".

Our democratically elected government has the ability to strike, what they think, is the right balance.

The companies and investors cannot be expected to take the broad view, so it is the WE who are responsible in a way, are we not? In a way, "the people" have, on balance, decided what level of regulations.

We would be tempted to complain that the lag and fidelity of choices by "the people" cannot be faithfully represented by the government. However, there's no better solution than what we currently have that I can think of, but I would love to hear about a scalable approach that caters to more individuals' specific wishes on a very very long list of policy decisions and that has short turnaround time.