With things as they are, banks can still speculate and fail leaving the government to step in to save them. This encourages recklessness and ineffiency in the banking sector.
I suggest that Nancy Pelosi be shown that the progressives want the government to seriously consider change, perhaps by means of a petition organised by Chris Bowers. I believe that this will strengthen rather than weaken Obama in the long term. The polls I suspect would show support for any solid change in banking regulation.
I do not know how many times this sort of thing has been proposed on Daily Kos. I would welcome feedback. Some might suggest that an Obama primary would result from any attempt to move the party and this could cost the Democrats the Presidency. I find it more likely that Obama would shift his position. He has already spoken against the banks.