Simon says:

"Such banks have become too large and complex for management to control what is going on,"
"The regulators also have no idea about what is going on. Attempts to oversee these banks in a sophisticated and nuanced way are not working."

former IMF chief economist and MIT professor Simon Johnson

 Fed regulators in hot seat over JPMorgan loss

My view:
1. break up the megabank so that they can safely fail without causing crisis.
2. short of that, the only remedy is to require a much higher capital cusion on the largest multinational banks. Build in a safety margin so large that it is impossible to fail.