This is impractical nonsense of course and needs to be seriously changed. We need competitive banking scaled at the State level at least. We have needed this for a long time.
This happened because the merger of banking with investment banking back in 1999 ending the most important reform out of the Great Depression.
The real problem is the economic ignorance of the political class itself who will buy any sort of nonsense and never listen to those who truly know better and are also truly independent...
How 37 Banks Became 4 In Just 2 Decades, All In One Astonishing Chart
posted by Aaron Jackson May 6, 2014
If you were wondering how banks got “too big to fail,” here’s a good place to start. This chart shows us how, over the last couple of decades, 37 banks have became just 4 mega-banks. These same 4 mega-banks have, thus far, been immune to the consequences of any and all of their terrible decisions that places the entire world economy in jeopardy.
Click the image below to view the full size image.