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Repeal of Glass-Steagall was essential to this planned economic destruction. It also is indebted to the Community Reinvestment Act signed by Carter as well as the approval by the Federal Reserve. Remember back in 1988 Greenspan, unilaterally, declared that "Banks" (Wall Street -too big to fail banks) could engage in the buying and selling of derivitives. He decreed, by fiat, that banks could not only be holding companies and lending institutions, but also investing entities (essentiall what Gramm-Leachman did later by statute in 1999). Then the bankers literally 'cooked up' an entirely new investment class called derivitives which allowed them to leverage buy or sell almost anything. This last conconction has become our undoing. When Lehman fell September 16, 2008 it was because there was a run on the money markets (Lehman was the largest money market). Lehman then filed a claim against AIG, its counterparty in trillions of notional derivitive value which became actual demand of payment. Of course AIG did not have that kind of money, so it made claim to its counter party derivitive holders to pay them (AIG) so AIG could pay Lehman. Then all of the counter party entities which AIG made demand on,...they then would make a claim on many others who sold this "insurance" to them..... I do not believe any of us knew how close to a complete global economic meltdown we came to on Sept.16,2008. Bernanke printed 700 billion and stopped the nuclear chain reaction...temporarily. Then of course the rest is the history of TARP, multiple stimulus plans, and multiple quantative easing...none of which did anything but put our children in debt to the level where they can never get out but by one way...a total collapse of the economic system and the restructuring of the system/systems...I believe, as Sarcoze affirmed, the only good thing that will come of this is a unified world currency. That is what is going to happen. The timeline will accellerate, probably at the end of October when the German and French leadership declare how Greece will be dealt with. Unfortunantly all of Europe is linked at the hip with Greece for their economic fidelity, and the USA (US megabanks) are linked at the hip with European banks. I look for war to come as the ulitmate settler of political and economic disagreements. Coersion will be the only tool left to deal with the tumult ahead. It will be the darkest days of nations on earth. And all because someone in congress thought it would be fine to trust bankers and politicians. What a crying shame. I guess it had to come to this. Remember the prophet Jeramiah...."the human heart is deceitful above all things, and desperately wicked, who can know it."