Regulation, no matter what some of you seem to think of it, exists for a reason, and it is to prevent things such as this.
Regulation, no matter what you naively believe, exists to get rid of annoying competition, concentrating market shares and income.
Learn about "public choice", the first 20 seconds of this video might enlighten you a bit:
http://www.youtube.com/watch?v=6uR4lqa7IK4Regulations cause that effect much more effectively and transparently ("disguisedly") than simple government spending.
Anyway, you probably won't care, I'm probably losing my time here.
Had there been accurate reporting, disclosure, meeting of capital requirements, self-regulatory structure and organization, safeguards against market manipulation, and so on, perhaps this all could have been avoided.
Yeah, pretty much like the much more serious hack of Sony was avoided, right?
Go to school. Youtube is not an education.