"Throwing people in jail" also isn't a very good solution. The financial collapse was a result of mistakes, not crimes. We don't arrest people for making bad investments. Ironically, the biggest company betting against mortgage backed securities, was Goldman Sachs. Yet they have probably been demonized more than any other company. That makes no sense.
There were endless amounts of laws that broken all the time. Daily, in fact. We'll never even know about them because most were not investigated, and now we've just decided that jailing people isn't good policy. Throwing people in jail and taking all their stuff is the way to fix white-collar crime.
Banning revolving door employment deals isn't a good solution either. The government already has enough trouble attracting good people. If you want people that know how the system works, you need to hire people that have worked in the system. After their stint in government is over, those people expect to continue in their profession.
This is very easy to solve with good policy:
1. After leaving government employment, your private sector salary above your top government salary is taxed a 100% the first year, declining by 10% each year thereafter.
2. Pay after bonuses for regulated industries is tied to the pay of the regulators. Pay and bonuses and equity in excess of the government regulator salary is taxes at a rate of 90%.
As a matter of fact, this will solve just about 99% of all problems in the financial services industry, because it will remove the absurd profit motive that drives bankers to take massively inappropriate risks. We'll end up with a nice, respectable, small, non-dynamic, stable financial services industries, doing things like encouraging savings, and lending out money that is accumulated through savings at a reasonable rate of interest.