Although I agree that government regulation over the banks instead of informed decisions by consumers determining what services banks offer isn't an ideal arrangement, 2008 was a pretty clear example of how a combination of bad judgement by some consumers and predatory business practices from some lenders can affect the livelihoods of all Americans. The government needs step in to protect the interests of its citizens when the market can't. This will also promote competition by forcing monolithic companies to segment into smaller, less monopolising units. A healthy, growing economy is a reasonable trade-off for some restriction on the banking sector.