The UK’s Vickers commission beavered away for a year or more with a view, amongst other things, to reducing the TBTF subsidy that banks get. Ditto Basel III and Dodd –Frank in the U.S. And the net result? They’ve managed to make matters worse, not better. See here.
Words and phrases like “shambles”, “cock-up” and “incompetence” spring to mind.(Hat tip to Mike Norman.)