Congress

No question you're right.

The reason that isn't happening (and isn't practical) is they can only be broken up if they're already financially healthy. Otherwise the small parts would die, separately.

The "rescue" of Merrill Lynch spread benefits in places I'd rather not have them gone. But for sure the investors whose mutual and money market funds would have disappeared benefited a lot.

And short of "nationalizing" ML much as GM and Chrysler were (a hard sell in a country terrified of "socialism," the sad answer to ML was to merge it into an even larger entity, meaning the surviving bank was even "too Bigger to Fail."

As if Bank of America isn't already a zombie.