Breaking up the banks will only delay them for a bit or will encourage them to do some neat accounting tricks and further take advantage of whatever loopholes they can.

Even if they do split, what's stopping them from forming a free organization of banks that colludes to further mess things up? Note that I said free organization rather than corporation.

No, what's needed is a completely different system that makes having a lot of money no different than having just a bit of money. Then there wouldn't be an incentive to make millions of dollars.