Ted Kaufman, a United States Senator for Delaware writes to the President and makes the case for breaking up big banks...

"That's why I believe we must separate commercial banking from investment banking activities, restoring a modern version of the Glass Steagall Act to end the conflicts of interest at the heart of the financial speculation undertaken by megabanks that are "too big to fail." We further should limit the size of bank and non-bank institutions, something Senator Sherrod Brown and I will propose in legislation we plan to introduce this Wednesday. Otherwise we will continue to hear these mega-banks claim they are merely "market-makers," and no one who deals with them should trust whether the very creator of a financial product they sell is secretly betting against its success."