culture blurb...did deregulation get us where we are today? No

from realclearmarkets:
By the time the Gramm-Leach-Bliley Act was passed in 1999, repealing most of the provisions of the Glass-Steagall Act, legislators were simply endorsing what had already happened in the industry. These were trends that in some sense were actively encouraged by the SEC, other regulators and the regulated themselves as friendly to innovation and efficiency in financial markets.