I honestly can't tell if this is meant to be satire.
It's not a statement that some people don't argue with, but it doesn't seem to be a question that without Glass-Stegal removal, the 2008 crisis would have not spread as far as it did.
The government stepped in and decided that it would not let a company fail as "the market decided" it should, but instead it should change that outcome and spend money to keep these failed companies running. This is certainly not a case of the market running itself.
Ignoring the massive regulations on banks and inter dependency between banking and fiscal and economic policy for a minute, you might say "oh but the market did run itself and these banks crashed and it would have been bad for society if that were to happen so the government had to step in". But that's how all regulation is justified.
I think that's where the other comments are coming from anyway. But I'm not sure it's entirely fair, because I think it's not unreasonable to say some amount of regulation makes sense to prevent problems that would require more invasive and costly regulation or intervention later.
In other words, heap big regulation bad not mean little regulation bad.
and I get it they want to increase their profit. Even if a company wanted to dispose it properly he won't be able to offer competitive prices if nobody else does it
One can argue that public agencies created bad incentives with regulations that mandated ratings agencies' assessments, and then shielded various parties from any accountability by bailing them out, thus removing the main feedback loop of the system (ie: you mess up, you fail).
It's interesting to consider whether the ratings do more harm than good at this point. Would a better rating system emerge if we got rid of all the legislation around bond/debt rating?
If they got rid of regulations tomorrow, the first barriers to entry would keep you from starting a ratings agency anyway.
Good. Sometimes we need regulation, otherwise bankers would crash the economy while getting bailouts with taxpayer money, workers would be paid below minimum wage, child labor would be rampant, and so on. The government is supposed to represent the people, although clearly money is the real voting power today. I'd like to see John Deere get sued into bankruptcy and laws set in place to avoid predatory techniques like this moving forward. I'm not hopeful though, and the stock market has certainly voted in favor of John Deere.