The collusion between the Federal Government and banks with the FED, FDIC, FHA, HUD, Freddie Mac, Fannie Mae, Community Reinvestment Act and more is what led to the financial crisis.
When government gets in bed with big business we get: ratings agencies rubber stamping investments, regulators looking the other way, banks giving liar loans, the government bailing out banks and taxpayers paying for everything.
This regulatory capture also increases the barriers to competition, further hurting citizens/consumers.
Abolish the FED, FDIC, FHA, HUD, Freddie Mac and Fannie Mae. Repeal the Community Reinvestment Act.
Abolish the Federal Reserve as we know it. Replace it with an automated system as Milton Friedman suggested until better solution is discovered