The answer to that is to have less regulation so that the market place can provide alternatives.
I work in the financial industry and we are heavily regulated. My company for the most part “did it right” the past few years and has gained market share.
But the increased regulation has made it hard to get things done for customers (and is not really helping anyone). But our company will thrive because of of that regulation, because regulation it will keep smaller competitors out.
I don't like that; because many days I would rather work for a smaller entity. Different from where I am now.
The SEC did a bang up job over regulating Bernie Maddof.
By and large, the commercial and regional banks are in this category. They limited their exposure to questionable investments, and they deserve to prosper as a result.
By contrast, those banks who did not act prudently should fail. Notice I do not say "deserve to fail"...they simply should fail so that investment dollars in future gravitate away from the incompetent, and toward the competent.