re: Would We Have Been Better Off If The Gov't Let The Banks Bottom Out, Not Bailing Em Out?

My company's bank rep feels that we are destined to repeat the 2008 crisis because of his opinion that banks should not include both investment banking and traditional deposit services within the same bank. Basically saying that they are gambling John Doe's money at the risk of another bubble developing.

I finally watched The Big Short recently and that was a bit disturbing.

All of my parent's retirement is held by Wells Fargo. Given that I don't understand all of the finer details, should they consider splitting the Wells Fargo retirement into multiple banks? Or does it not really matter since a financial system collapse without government bailout is the only way that the money would completely disappear?