Of the Banks, by the Banks, for the Banks…

Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Morgan Stanley, and Goldman Sachs - these banks live in a different universe than mere mortals. Why? Because of the buzz phrase you have heard a lot of lately. They are simply “too-big-to-fail.”

When a bank is insolvent, the Federal Deposit Insurance Corporation (FDIC) created by the Banking Act of 1933 not only has the right,...