Can We still let the others decide what can retailer do?

When $GameStop(GME)$was going crazy, the people wearing suits want to limit the action that retailer can do. In the name of protecting the interest of retailer, but can we trust them?

Apparently not. They don’t even know or don’t even care that the same tactics used by hedge fund has been running for years. A single sided limitation only turn this into a unfair playing ground.

I do think that protecting and certain financial knowledge should be required before anyone can trade/invest in stocks. But this should not be a blanket limitation. Hedge fund who do the same should also be treated the same. 

The incident of Archegos has prove that market can easily be affected by a overleveraged hedge fund than a group of retailer. The bank trying to frontrun each other is ugly. Butbehind close door trying to create a deal among themselves to limit the losses by selling to retailer is no sane either.

If the banks can’t even prevent themselves from getting into this mess, how can we expect them to tell us where we should spend our dollars?