Sometimes the blame is regulations: too many hoops for banks to update their software easily and without adding stupid regulatory liabilities. Regulations added to protect the user, but perversely hinder the user.
I am all for good regulations - they are vital for a well functioning society.
However, there are plenty of bad regulations that have perverse outcomes. There are also plenty of regulations due to regulatory capture where the regulations help an incumbent and hinder new entrants. Watch Intuit protect their income at the expense of tax payers. In New Zealand, there are plenty of horrifically inefficient health & safety regulations, because who can argue against saving a life at any cost?
I am against bad regulations that cost society too much without giving enough benefit.
