"Too big to fail" is just a phrase that is used to defend companies and industries which have close ties to political parties, and other large companies and industries that are not lucky enough to have this distinction (say Exxon Mobile and the oil industry in general) can risk being put out of buisness without any political help.
Now, just as a question, being that the financial institutions have used their political power to get the government to ignore or change any regulations that stood in their way what makes you think that anything they do today will actually "protect" consumers? Being that Obama is very close to the architects of this mess, what makes you think that these changes will benefit consumers and not financial institutions?
