This was an exceptional interview on Bloomberg with Morgan Stanley (MS) CEO James Gorman.  Gorman correctly understands the global nature of the financial industry and the benefits of scale necessary to compete on that global level.  It is extremely obvious that the sum of the parts of these banks are greater than the current market caps, but that is likely to be a temporary phenomenon which will be arbitraged away by dividends and stock buybacks.  The most important thing is for the banks to execute in their businesses and grow profits, through cutting expenses, and eventually revenue growth.

http://www.bloomberg.com/news/2012-06-27/gorman-says-wall-street-firms-don-t-need-to-be-broken-up.html

INVESTING IN THE FINANCIAL MARKETS INVOLVES RISKS. OPTIONS ARE NOT SUITABLE FOR ALL INVESTORS.