It is the duty of capitalists to spend all their waking moments thinking about how to make as much money as possible. To work properly this must be a completely unfettered activity. Worrying about bad effects isn't really part of the process.
It is the duty of government regulators to examine the activities of capitalists and make judgments about which are in the public interest and which are not. Nothing should be omitted from this examination process. Some activities should be forbidden and others strictly controlled, depending on how they are seen to affect the overall economy through up and down cycles. Particular attention must be paid to down cycles.
As a young person I read Theory of Countervailing Power by Galbraith. If you haven't read it, you should. Thinking you don't need both pieces is just plain dumb.
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