We regularly hear calls from prominent observers who wish to turn back the clock on the banking industry. They propose a return to a prelapsarian state that they believe existed before the enactment of the Gramm-Leach-Bliley Act in 1999 and the perceived excesses of the new millennium. The proposed 21st Century Glass-Steagall Act of 2015 is the latest example in this vein, promising a return to "boring banking".