How about more money and more regulation? Maybe not as crazy as it sounds. Harvard's Moss says that when Glass-Steagall was passed back in 1933, many critics predicted that the forced separation of commercial from investment banking would severely weaken the American financial system and undermine its competitiveness. "It turned out that the critics were dead wrong," Moss says. "In fact, our investment banks turned out to be the most competitive financial institutions in the world. They were arguably more competitive, more dynamic than they were before Glass-Steagall, before the separation, and our financial system blossomed." That "golden era" of U.S. financial regulation lasted some 50 years, Moss argues. "There were no major financial crises and America's financial system was the most competitive in the world. That formula - of aggressive regulation of the biggest systemic threats and a lighter regulatory touch elsewhere -- worked for us in the past, and it's a formula we should get back to." -- Written by Dan Freed in New York.