I have frequently mentioned that the banking industry is possibly the most highly regulated industry in the U.S. because the government wants to protect the life savings that everyday Americans have deposited in banks. That's true... but it's probably only part of the reason. Banks are also highly regulated because they are so critical to economic growth, economic progress, social progress, social opportunity, wealth creation and so much of the macro-environment that impacts all of our daily lives. How do banks and the banking system impact economic growth, economic progress, social progress, social opportunity and wealth? Think about all we talked about this semester. Focus on the role that banks play in our economic system. Focus on the choices banks make. Focus on the cases. Think of some of the history lessons we discussed. Think of some of the crises or turbulence that we have seen banks involved with and how that impacted the economy. In general, explain why banks are so important to our economy. . both for better and (sometimes) for worse