If the taxpayers are on the hook if a bank fails, then they are in essence a part of the government.
They need to be broken up, geographically distributed so they don't hire the same lemmings as managers and their proprietary operations need to be moved to completely separate entities that also need to be smaller.
It should be made clear in both law and fact that NO proprietary trading operations will be covered by any kind of bailout or guarantee by the Federal government or the Federal Reserve, and neither should the Federal Reserve manipulate interest rates to prop up stock prices.