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You are not alone in advocating that banks should be broken into small pieces and tightly regulated, with the banking, insurance, stock broking and investment banking businesses completely separated, as they were following the banking calamity of the early 1930s. Others advocate that any profits in excess of those regulated returns should be returned to depositors as dividends. Strict capital-adequacy ratios should be enforced, while securitization and off-balance-sheet items should be banned. Such precautions in combination with regulatory oversight would eliminate excessive risk-taking. Offshore banking centers and tax havens should be shut down. The question in my mind is whether it is realistic to expect offshore tax havens that facilitate tax fraud to be put out of business. And can one expect governments to control capital flows? Besides, financiers occupy positions within the government from which they can influence legislation related to the regulation of the financial industry. And there are powerful voices that advocate that risk taking is essential in promoting new activities and growth. This debate will continue for years...