The Glass-Stiegel Act lapsed or was undone during the Clinton administration and was a big contributor towards the financial meltdown at the end of Bush II's 2nd term. This relates to the "too big to fail" idea in that if an investment house (which only serves the very rich) tanks, then it won't take with commercial banks (which serve the other 99% of us).
This is historical material “frozen in time”. The website is no longer updated and links to external websites and some internal pages may not work.
