Investors love to bellyache about the lackluster performance of bank stocks. But if you’re sick and tired of it, there’s something you can do.

Shareholders should agitate for the big banks to break up. So says, former FDIC chair Sheila Bair on CNBC’s Fast Money Halftime Report.

“Substantial shareholder value could be unlocked if they were broken up.”

Bair’s comments come in response to insights made by former Citi chairman Sandy Weill on CNBC Wednesday morning.

“What we should probably do is go and split up investment banking from banking, have banks be deposit takers, have banks make commercial loans and real estate loans, have banks do something that’s not going to risk the taxpayer dollars, that’s not too big to fail,” Weill tells CNBC’s “Squawk Box.”

Bair takes the idea a step further.  She points the finger at 3 banks. They are JPMorgan , Citigroup and BofA . “Mega-banks trade at steep discounts to tangible book value,” she reminded.

Although she didn’t come out and say break up these specific banks, she did say “their shareholder value is not impressive,” and in the context of the conversation suggested that stock holders would benefit if they were smaller entities.

In their current form, “(These) banks are too big to manage centrally,” Bair said. “And they’re too big to regulate.” But pull apart the pieces and value could explode. “You’d get better efficiencies … with institutions more focused on core business.”

Trader Mike Murphy, founder and managing partner at Rosecliff Capital, agrees with the thesis. As a professional investor he’d like to see the financials perform better and says “there could be real value generated by a break-up.”

“The market should really take the lead on this,” Bair concluded. It could be a win-win.