What Profits?

So, we have this story suggesting that investment bank profits are expected to drop with the implementation of new regulation.

As Barry Ritholtz notes, banks have had no profits over the past 15+ years. They lost it all since 2006.

So, regulation won't decrease profits, it will just decrease profiteering from the froth, and the outrageous bonuses earned by executives and traders during the froth, not profits.