§ 1831o. Prompt corrective action
Under current federal law federal authorities have only 90 days from the time that a bank exceeds the required minimum level of capitalization. In a striking blow to Obama's top banking official Timothy Geithner. William K. Black, the former senior regulator during the savings and loan crisis and the man that blew the whistle on the Keating Five, blasted the current banking crisis as a period of anarchy - "a time where lawlessness is prevalent".
In an interview with Bill Moyers; Black author of the book "The best way to rob a bank is to own one" he blasted the current and previous administrations for their handling of the banking issues referring to the pervasive issuance of "Liars Loans" which were packaged with AAA ratings then sold to other financial institutions.
This if nothing else make the case for establishing a "Resource Based" economic system. You simply can not separate risk from reward. The regulations and ethics that separate the banking system from investment banking must lead to creating a level of transparency and reporting designed to expose fraud and reward performance.