Anyone can do it. There is no license required, no certification process, and no competency tests. Imagine what driving in a big city would be like if anyone who could afford an automobile were allowed to just take to the streets. People usually don't die because of their online trading blunders, although this may be changing. However, just as in highway accidents, newbie online speculators can inflict substantial property damage, if only to themselves and their families.
Banks say that deposits into their interest bearing accounts are at record lows.
We have several generations of folks out there who have their life's savings invested in the stock market. This could be a good thing, and it was in the old days of professional portfolio managers who knew how to ride out market downturns using sophisticated risk management models. The market as portrayed by CNBC is a manic roller coaster ride. This image combined with the ability to execute trades with mere keystrokes makes it all too easy for the young brood of online investor-speculators to sell into panics and buy during the euphoria of a bullish top. I'd be the last to suggest government regulations are warranted.