As long as there are monopolies granted for money-making powers, we cannot have a free market or even a true democracy. The people who control the money supply can and do use that control for their benefit and use the resultant wealth to buy politicians and exert undue control over the government.
No amount of law-making or regulation can counteract the imbalance of the power that a monopoly has in a system which is as fundamentally closed, hidden, secretive and convoluted as our financial system.
If we ever want economic stability and sustainability then we need to build a new system which can be self-regulating.