In 1997 Glass/Steagall (banking regulations) were repealed. The assertion was the regulations (to separate Retail/Investment banking)was no longer required. Today’s modern banker wouldn’t risk long term solvency for short term gain. It took less than a decade to prove this evolution folly.
The events of 2008 certainly pointed out a lot of folly, but G-S wasn’t one of them. G-S never regulated investment banks, and it was the investment banks (along with the GSE’s) that broke the economy.
Not to pick on your personally, but I have been asking people for a decade now this same question:
Why do you believe that the repeal of a set of retail-bank regulations contributed to a meltdown that was caused by investment banks?
10 years now, still crickets. :-)