WHY fix banks?? They work fine, don't they?
BUT, traditional banking practices create HUGE incentives for criminal behavior by bankers.
For literally thousands of years bankers have known and used the FRACTIONAL RESERVE SYSTEM. This means that banks do not keep all your money in their vault for you. After all, it's easier for you to leave your money in the bank when you're not using it. Bankers know you will leave your money there as long as you are sure you can get cash when you want it.
They keep a small percentage - say 10% or 20% - in cash on hand for you, knowing that you and other depositors will never ask for all your money at once.
What that means in practice is that when you make a bank deposit of, say, $1,000, you have just given $800 to a banker to do whatever he wants with it. He can, and does, gamble, build big houses, buy back his stock, etc, etc.
After all, it IS a for profit bank run by individual bankers. The only obligation he has to you is to be able to give you your money when you want it. And that's only because he does not want you to take your money out of his bank.
NOW, consider the slush finds of for-profit banks as a group:
According to FORBES, [https://www.forbes.com/sites/greatspeculations/2017/06/13/loan-to-deposit-ratios-for-largest-u-s-banks-show-signs-of-recovery-in-q1/#3500aaa212f4]....the top 5 US banks have $5.2 Trillion in demand deposits while the entire system has S12.9 trillion. That's almost as much as the US GDP!!!
Here's what it really means: the TOP FIVE  banks have a slush fund of FOUR TRILLION DOLLARS [80% of the deposits] !!!!
They are: US BANCORP, WELLS FARGO, BANK OF AMERICA, CITIGROUP and J P MORGAN.
What CAN they do with a $4 TRILLION SLUSH FUND!!
Well, here's what they say they do: they make some loans and buy some company shares. AND, they pay a lot of lobbyists to keep restrictive regulations from becoming law.
BUT, here's what they REALLY want: They WANT Depressions!!!
Not to say, banks CREATE recessions on purpose, BUT they do make profits from recessions.
Because, when we are all suffering in a recession, that means they can buy real estate and other assets and bargain basement prices. Then they make a fortune when prices rise again.
AND, if you lose your job and your house in a recession - it's just the 'market' after all.
ONE of the causes of the Great Recession of 2009 is that a few banks sold bonds to other banks which were backed by home loans. Even though many of the loans were non-performing, i.e., were in arrears, the bonds were sold as AAA rated. AND, they bribed the rating agency to keep the rating. [See the aclaimed movie 'THE BIG SHORT' [https://en.wikipedia.org/wiki/The_Big_Short_(film)].
Non-traditional banks are the ONLY answer to protect consumers. Both of these solutions protect ordinary people from banker's greed by removing the profit potential from criminal activity.
1. Nationalize the commercial banking functions where banks receive deposits and make loans. The Federal government will own them. See detailed explanation here: http://www.mkeever.com/publicbanks.doc
2. Place all deposits into non-profit credit unions. This will prevent individual bankers from taking risks with deposit reserves.
Find a Credit Union near you here: http://mapping.ncua.gov/