Thank you for the feedback. I was trying to tie it to 1977 but not sure how was done. Even with the 1977 act, would not the 1999 changes made it worse and began the downfall?
LATE EDITION (CNN) : Douglas Holtz Eakin, adviser to John McCain; Austan Goolsbee, adviser to Barack Obama; former Rep. Rob Portman, R-Ohio.; Gene Sperling, former Clinton administration economic adviser; Rep. Ron Paul, R-Texas.
Blitzer “the race is close” [ = Obama is losing, Wolfe just can’t bring himself to admit it]
The repeal of Glass-Steagall did make it worse, but I don't believe it was the underlying cause. Underlying causes were the attempt by government to force financial institutions to provide bad loans to people with no income and no assets; and the corruption and graft, among the government institutions and community organizations that that attempt engendered.