The Glass-Steagall Partial-Repeal Did Not Cause the Financial Crisis

[Armstead]

25. One of the cuts in "death by a thousand cuts"

Not the sole culprit but part of a long pattern of sins of omission and commission that created a monopolistic economy with highly concertrated wealth and power.

All along there were red flags as we deregulated and allowed the chain of mergers, mega mergers, and mega-mega mergers to the pount we are today.

All along the way, they were warned by many -- including real economists -- of the folly. But they ignored and dismissed them in the same imperious tones as your post.

The failure (refusal) of the Third Way Democrats to take steps to prevent the series of bad policies -- and undoing of good polucies -- allowed the Corporate/Wall St. Oligarchs to become "too big to fail" and ultimatley tank the economy with their greedy recklessness and outsized power.

They fucked up at a thousand steps along the way, and they joined the GOP in promoting the big Supply side con job.

I'll listen to people like Elizabeth Warren over the cabal who aided and abetted this along the way -- and their apologists.