Certainly the problem is systemic. We have created a gargantuan financial system that nobody understands, underpinned by a legal system very few understand and forced poorly educated people into investing their money into it.
The reason why its worth the attempt is that GWB signed off on the deal. The clearest way to say no mas is to go after the guy at the top and make an example of him.
Do I think it will happen, not a chance in hell. Do I think it will get Congress/Presidents attention, maybe. If enough people take 30 seconds to read the petition, 10 minutes to read some commentary on the issue and another minute to sign the petition, back room deals that screw all of us, especially savers can be stopped. This is still a democracy as long as we act like it.