Glass Steagall was enacted to prohibit the mixture of banking and insurance that led to the Depression.
The 80s and 90s deregulation of banking resulted in the lifting of Glass Steagall. Now we see another banking crisis directly caused by overleveraged mortgage security insurance and ratings.
Won't we ever learn ?
9 posted on 01/16/2008 2:19:28 AM PST by Vet_6780
("I see debt people")