[bsjshshsb]

Why wasn't it set up so the government is the insurer. Rather than 3rd partying it. It is akin to federal reserve using wells fargo to store their money.

[lupire]

Because of regulatory capture and lobbying and campaigning to get people to vote against their self interest.

[actionfromafar]

That's communist talk I'm told. We must have lobbyists (remember, money is people, too) instead.

[Spooky23]

Because that is evil socialism