Who does these stories only go back to 2005? That was just when the problem was really noticed and a bill was put forth to correct it. But the problem started way back in late 70’s under Carter, and was expanded in the early 90’s under Clinton.
The risks were well known and ignored.
GLASS-STEAGALL ACT:
COMMERCIAL VS. INVESTMENT BANKING
Updated June 29, 1987
http://digital.library.unt.edu/govdocs/crs/permalink/meta-crs-9065:1
Hey, first we have to get to the point where most Americans understand even the general outlines of what happened in 2005. Then we build on that.