The idea of "too big to fail" is still alive and present in our country, and allows big banks the opportunity to engage in risky behavior without consequence. Given the enormous volume of money moving through these banks, it is virtually impossible for them to fail without drastic economic consequences. Unfortunately, they know this. These banks can engage in all sorts of risky behavior confident that the government will not let them fail. These banks could lead us towards another financial meltdown, and breaking up "too big to fail" organizations may be the first step in preventing that.
Breaking up big banks will not avoid the incoming financial meltdown. This kind of action could however successfully delay the meltdown. I am convinced that the massive amount of debt created by the Federal Reserve since 2008 cannot be unwound gracefully. All that can be accomplished is to kick the can down the road further.
Breaking up big banks is treating a symptom of the disease, not the core issue. The ethos and political indifference that brought the current situation about would manifest itself again, with some other organization or structure, netting the same result. Real equality of wealth and opportunity will only happen with a dramatic change to the entire system, not just the players.
Breaking up big banks will not avoid a financial meltdown because the size of the bank is not the problem. The problem is the regulation, or lack thereof, that have been imposed upon them by teh government. The government created the mess. And the irony is that the very entity that created the mess will be asked to fix it. This will not end well.