People worry too much about things that they will never know or they think they know.
People lose millions everyday in derivatives market including FOREX and FUTURES and the leverage in these market make property market leverage like WALKING in the park !!
Anyone can enter these risky market at any time with massive leverage and most will lose but hey they seem to take their own responsibility reasonably well and too embarrassed to tell anyone that they have lost their house gambling on these market.
They seem to understand that there is a clause in the agreement saying that they can lose all their money and more and they do still take the risk and in comparison, the banks have very tight rules.
Do the gov need a RC on these market ??
Those borrowing money to buy a property by over stating their income by 100% should take responsibility for their action as they have broken the law by misleading the banks.
The banks are just like other businesses and they have a job to profit LEGALLY permitted and that is the only reason they exist, if the gov like to have banks that do not make any profit then they should create a bank that will act as a charity organisation not like a business and they/GOV should run this bank to help everybody in need.
You can not say the Banks make too much profit, that is provided they operate within a legal frame work and it is the essence of our capitalist system.
Those companies braking the law should be punished and it is not just banks.
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