'Not true. There is plenty of private capital with individuals having say over who owns it and how it is used. Even my paltry savings account is
private capital. '
Not true at all. Your savings account is backstopped and protected by
Government via the FDIC
. In the past, a private bank would guarantee investments and interest rates. Hello 'It's a Wonderful Life', government now controls all aspects of our current system, and you just celebrated another of a form of picking a industry to be protected by government. Capitalism has always involved risk, government has removed vast amounts of that risk to cater to certain interest groups. Banking is part of that protected class.