I can’t say that is true. I know many good, honest, competent bankers who will continue working despite the new oppression of the Fed, just like there are similar doctors who continue working despite the oppression of Medicare/Medicaid, and ever-growing government rules.

But the bankers will resent their new oppression, and as they see the profession become less desirable, they will leave it, and other would-be bankers will not enter it in the first place.

Yes, over time, the concentration of unethical, incompetent, and toadying bankers will grow among those who remain. But among that group there will still be many good ones who are chafing at the growing rules.

In the same manner, even under socialism, a handful of suffering competent doctors will struggle onward, much like a famous character in a novel I suspect we both admire.