Hi Pinto ,There are a few other points on banking at that...

Hi Pinto ,
There are a few other points on banking at that time.
The legislation was a product of a republican majority house and senate.
And yes, Clinton didn't veto it.
Now , the not so closeted socialist in me , was not in agreement with that , but in reality the 1933 intent to protect bank depositors , had been long surpassed by other banking regulation and processes.
The repeal just formalized what had already happened.
Not repealing it would have has no effect on poor lending for housing . or the misuse of securitization of all those dodgy loans, which really formed the basis of the GFC.
Mostly under the Bush presidency, by the way.
I am being a tad ingenuous putting too much blame on Bush, the problems really all started with Reagan years , when any interference with ''business '' would have idiots like Cowcockie , mooing about communists , made keeping the Titans of Finance under control impossible.
cheers