The inevitable Democrat apologists whine, using the inevitable Bill Clinton line…
…’but, Glass-Steagall had become less and less effective, made no difference.’
Well, during a blizzard there’s a difference between cracking a window for fresh air, and throwing the door wide open…repealing Glass-Steagall removed the door…
…after Bill Clinton’s administration pulled the hinges, by using the Federal Reserve to issue waivers to big banks, obscuring the line between securities and banking.
Bloomberg tries to run cover for Hillary, claiming the law’s repeal wasn’t a final factor even while confessing that Slick Willy’s Federal Reserve was removing its hinges.
And laws rendered ineffective by non-enforcement doesn’t excuse their repeal.
Unless…of course…you’re a Democrat…
…or their enablers.