To Regulate or Not to Regulate (Pick an area to apply the question to Research Paper

To Regulate or Not to Regulate (Pick an area to apply the question to it, as per the instructions) - Research Paper Example Many say absolutely; while others say definitely not. It is the intention of this work to outline reliable viewpoints to determine if self regulation is even a feasible contention. It is the overall determination of this research that it is not. Regulation of the banking system is essential. Reforms are certainly called for, but completely â€Å"free banking† would be foolish and economically dangerous to the United States. Regulations were initially introduced to unify the banking industry, but, also, to protect the monies of the people and to encourage universal honesty in banking business practices. Today the regulations have been altered, reformed, and added to accommodate the changing times in comparison to the earliest appearances and the opinions about those regulations placed on the banking industry have been heavily debated and will probably continue to be so for a long time to come. There are viewpoints that stretch the entire spectrum of the topic. There are those that believe that there should be absolutely no regulations dedicated to banking. There are those that feel that the regulations need to be stronger and even stricter that they currently are. There are, also, those that remain somewhere in the middle on the issue. They feel some regulations are definitely in order, but are not certain if even more restrictions will actually solve the problems within the banking industry, or just ma ke things much worse. So which viewpoint is right? Can the banking system be self regulated? Will the viewpoints ever find a compromise that result in a solution that is effective and successful? Would anyone feel comfortable depositing their hard earned money in a bank that did not possess FDIC insurance? Without that insurance and the regulations involved your money could become leveraged while the bank takes financial risks. If something goes wrong and that money was lost banks would have little incentive or responsibility to you or that money.("Office