The single, most important unlearned lesson is the unnecessary danger of private banking.

All banks should be federally owned. There is no public purpose served by private ownership of banks. The profit motive always, always, always will lead banks to stretch the rules. Federal supervision never will be able to keep up with the clever criminals.

And if the government is to make the banking rules, why not have the government simply run the banks, and not continue engaging in the impossible act of herding cats?

See: http://mythfighter.com/2012/03/31/the-end-of-private-banking-why-the-fe…