Paul Volcker says the commercial banks should stick to commercial lending. They should not be in hedge funds, equity funds, commodities trading, trading in derivatives.

How can we separate commercial banking from those other functions.?

Paul Volcker also says the bonus' given are out of touch with reality.

Do financial institutions need regulations on calculating bonus'?

Lastly, Paul Volcker says: You have to have a much stronger supervisory and regulatory apparatus to have any chance of keeping up with that.

So, what supervisory and regulatory apparatus would they recommend to prevent a future melt down?