That is why the banks are too big to fail. They should have never been allowed to do all of that. We have seen historically our system works best with competition and not just a hand full of entities ruling an industry but we still let shit like happen and look how we all are being screwed because of it.
There are plenty of banks. There weren't plenty of telcos in the early 1980s.
You need to do with the banks what you did with the telcos.
break them up for thirty years then let them remerge?
They're not remerging.
Way to miss the point.
You guys broke up the telcos because they were too big to fail. I'm suggesting you do the same with the banks because now they are too big to fail.
"Too big to fail" is an odd way of saying that they enjoyed a vast, unfair monopoly. None of the banks do. You don't break up companies based on size, you break them up due to market share and market control.