"Within recent years, Reagan, in the 1980s essentially castrated the regulatory agencies, allowing the financial institutions to go back to their practices pre-FDR. And we're seeing the results of that now.

When areas of Capitalism become uncompetitive in the new "global" economy, they must be deregulated, or fail.

The deregulation is simply a means of buying time for a system which is deeply flawed.

The next step is the scenario provided by Songwronger.
It has all happened before to a lesser extent, but this is the big one.
Forget your political theory Don......just read some history.