Last week's unprecedented rebuke on Wells Fargo from the Federal Reserve was noteworthy in a number of ways. Never before has the Fed placed a firmwide limit on a bank, stopping them from growing. Outgoing Fed Chair Janet Yellen described the growth restriction as "unique and more stringent then the penalties the Board has imposed against other bank holding companies for similar unsafe and unsound practices, but is appropriate given the pervasiveness and persistence of the problems at Wells...

Jamie Dimon formally became CEO of J. P. Morgan Chase on Jan. 1, 2006, and Lloyd Blankfein took the reins of Goldman Sachs just six months later. Both executives have successfully steered two of the world's most celebrated financial institutions through the most turbulent decade for banking since the 1930s. Now that the external environment is finally improving for their sector and their companies' respective share prices have responded accordingly, is it time for these executives to bow out...