When ideas such as Federal Reserve Governor Daniel Tarullo's are taken seriously, it helps take the wind out of the sails of much more meaningful banking reforms: such as Public Banking and the NEED Act.
For instance, the New Deal FDIC was better than nothing, but it wasn't good enough and wasn't as good as other plans being floated at the time.
Read about Daniel Tarullo's plan here: Tarullo Sees Big Banks With Fed Rule Protecting Taxpayer - Bloomberg.
Just to be clear, I endorse the NEED Act but want to see a number of improvements to it (all of which I've itemized on this blog in previous posts). For starters, see: Monetary Reform: Series 1.