And who signed Glass Steagall, any idea who Franklin Raines and Jamie Gorelick were or Barney Frank and Chris Dodd?
Now that you mention it, Franklin D Roosevelt signed the Glass-Steagal Act.
It was the GOP, and Wall Street that wanted to repeal Glass Steagal. They had been trying to on and off since 1935.
Clinton had the poor judgement to listen to Reuben and support the Gramm-Leach Beily Act, which effectively repealed it.
(The Gramm part was Phil Gramm, who the GOP viewed as a financial genius. Alas, as a director at Credit Suisse, he pushed mortgage backed securities and dirivities and made a material contribution to the collapse of the bank, at the time the biggest banking scandal in Swiss history).
Every Republican vote for it.
And the Clinton team followed it up by deregulating derivatives In 2001. The Commodity Futures Modernization Act was Larry Summer’s baby.
A year later Citigroup collapsed under a mountain of speculative debt, effectively foreshadowing what was to come seven years later. Bush, DeLay, ignored the warning and did nothing. But they did replace budget surpluses with deficits as far as the eye could see.
And they followed that up by starting an unnecessary war in the wrong country, and losing it.
The Dodd Frank Act restored basic regulations like stricter reserve requirements and stress testing.
Of course, the GOP didn’t want that either.