Just read about how the Randlords in South Africa concentrated ownership of goldmining and diamond mining at the expense of those with small lucrative holdings. And, interestingly, it was done on the London stock exchange.
There have always been ruthless large players and allowing them unfettered free reign will serve their interests, not the people as a whole.
We had reasonable financial regulations borne of hard knocks, but abandoned them in a burst of hubris, dazzled by dollar signs.
Lessons should be getting learned anew, and will be eventually, but I see little sign of it outside of productive individuals and small businesses hunkering down.