I saw the documentary "Inside Job" which told the story of how de-regulation resulted in the financial crisis of 2008. The Financial Services Industry (Goldman Sachs) owns both houses of Congress, (both parties), and Obama. The turning point in de-regulation was the repeal of the Glass-Stiegel Act during Clinton's term. They were not very complemetary to Goldman Sacks, Harvard/Columbia Academic Economists, and the rating agencies.
Only with a big change in policy (which seems pretty remote) is there much hope for reform.