OK so maybe not the FDA but they should be run by someone like them.  Just think about it, the FDA owns labs to test drugs before they are sold to us the customers. The drug industry would love to sell us everything they think up of, but they can’t.  Since we have a check to make sure the drug will not kill us or make our skin turn blue.  Currently there are no tests be made before a financial product is being sold to us.  So here we are as a country relaying on our banks to sell us products that are good for us, but clearly they are only selling us products that are good for them.  With an outside entity running check on our banks and what they do, by testing a product with models to see how it performs over a year or 5 years or even 25 years would give confidence to all of us who are use these products.  If we have confidence in the banks again, we will all do better.