The regulatory controls and deposit insurance system put in place in the wake of the Great Depression created a sound financial system almost century ago. But these reforms have been made obsolete by changes in markets, a revolution in technology and rampant inflation due to failed fiscal and monetary policies. Congress belatedly and half-heartedly rewrote the regulatory script in 2010 after another round of financial stress occurred in 2008 and 2009. Seeking ways to maximize the overall health of a complex financial system, Congress created the Financial Stability Oversight Council, or FSOC. But the financial stability that the council was supposed to find remains elusive. Five fundam
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