In extraordinary news, one of those who help create our megabanks, Sandy Weill of Citigroup, now says they should be split into investment bank and banking units. Sandy Weill created Citigroup as we know it today. As their CEO he lobbied hard in 1998 for the repeal of the Glass-Steagall Act which mandated that deposit banks be separate from investment banks. But he has now come full circle and is, in effect, calling for Glass-Steagall to be re-instituted.
More about breaking up the banks at my article on IVN.