QUESTION: Critically evaluate and explain how major regulations affect financial institutions, especially commercial banks including a discussion of bank failures and their impact on individual communities and the nation$$s economy. Drawing on the lessons from the past bank failures and then discusses the reasons for regulating financial institutions. Why don$$t banks just look after themselves? What are the key measures to minimizing the probability of a systemic failure of the financial system particularly the banking system? Are there any costs and benefits of such regulation?