Worse still, if a large U.S. money center bank becomes too big to fail, can the regulators stab bondholders with the same type of cram down tactics experienced by Anglo Irish subordinated debt holders?

FORBES: U.S. Bank Bonds Could Face An Irish-Style Cram Down

Both sides complained a large number of schools were about to fail because the rules were too strict and the timetable too tight.

WSJ: Obama Shifts View of Executive Power

Indeed, if banks were unregulated, and as such free to succeed and fail, investors and financial institution creditors would make sure that none grew too large given the losses they would suffer in a free market for any bank committing ghastly errors.

FORBES: Book Review: Reckless Endangerment by Gretchen Morgenson and Joshua Rosner