handing out cash with less oversight than a preschool at night

Yes, eleven federal financial regulator organizations. Along states with there own regulations and oversight agencies. Banks made to have capital requirements, capital adequacy ratios, stress tests, liquidity requirements, restricting the amounts depository institutions investing in stock market etc. etc. etc.

This comment is so incredibly idiotic. This isn't cryptocurrencies. The financial industry is heavily regulated.

Also, it doesn't take much research to find out why we got rid of the reserve requirement. We moved from the corridor system to the floor system (also known as ample reserves regime) and it wasn't necessary to keep the requirement because all Banks kept massive amounts of excess reserves.