This is an important question in our financial world. As you probably know there is very little financial regulation when it comes to our financial firms. For this reason, they are able to do almost whatever they want with investor money. This can have disastrous consequences. We have seen this in 2008 with the collapse of Lehman brothers and other financial firms. They made irresponsible decision and some may have had the audacity to expect bailouts!
We have not learned our lesson. Recently MF Global went down. More seriously, it has allocated people's money in an unethical way. John Corzine, former governor of New Jersey, and CEO of MF Global should have known better. There is also money that is unaccounted for. What happened? The point is that we need to monitor banks and financial firms. Moreover, they need to communicate with the public. This is why accountability and some sort of monitoring is necessary.
One more point. If the banks were too big to fail and that was a problem, then the biggest irony is that our banks are even bigger now.