“Don’t talk about deregulating banksters! It’s too complicated and it has been abused by banks and politicans deals in crashing the real estate market.”
Banks, investment banks as opposed to commercial banks, got the deregulation they wanted during the Clinton administration. They wanted Glass-Steagall gone and so it was, with Republican support in Gramm-Leach-Bliley and the CFMA 2000.
To me it’s no surprise that less than 10 years later the economy was plunged into a major crisis with investment banks right in the middle of it. Glass Steagall was passed because of hard lessons the Depression Congresses learned. That was all un-learned by the geniuses who dismantled all of the walls separating Wall Street from Main Street.
You are soooo right. The last think the Republicans want to do is justify any of this failure and stupidity.