Public Utilities - Electricity, Water, Sewage... Vampire Squids?

In recently declassified testimony (why is this crap classified anyways??) given back in November 2009, Mssr. Bernanke had this response when asked about his thoughts on new financial reform...

I just want to say this as strongly as possible -- the reform will be a failure if we could not contemplate the failure of Goldman Sachs. That is, there needs to be a system by which Goldman Sachs will go bankrupt and Goldman Sachs’ creditors could lose money. If we don’t have that, then we might as well treat them as a utility, because that’s what they are.