The failures, two years after the initial "living will" drafts were submitted, raise questions about whether it will ever be possible for such large institutions to write their own funeral arrangements.

In that sense Tuesday's failing grades represent most of all a failure of the Dodd-Frank vision for bank regulation. The model is supposed to be that regulators will be able to see failure coming and prevent it. They will also so thoroughly understand all that the banks do that the wind-downs will be seamless. Apparently not.
Societies that do not find work in and of itself "pleasing to God and requisite to Man," tend to be highly corrupt.