For 55 years from 1933 to 1988, the US suffered no major banking collapses or financial crises. But in 1980, with the repeal of key provisions of the Glass Steagall regulation along with other regulations, Savings and Loans were once again able to take undue risks outside the long-term public interest. Peaking in 1988, the US Savings and Loans crisis was the first major collapse of US financial assets since the great depression. In 1999, another major provision of Glass Steagall, which prevented commercial banks from acting as investment banks, was removed.
The commercial banks took risks they shouldn't have while the Federal reserve printed money and then bailed them out to save individual savings tied to those banks. Our gov. has not done enough to prevent another collapse/bailout.