The Long Demise of Glass-Steagall chronicles the assault on the United States banking system regulations that were put into place as a result of the suspected market speculation by banks in the 1920's. Many believed this caused 20% of all banks to fail.
Frontline has the entire documentary
online make it seem like it is online but after trying to get it to stream and it doesn't, you will realize they removed it, cheesy bastards, for viewing renting at your library.
Remember Spitzer? Well ignore his various sins and realize this documentary was made to document the Enron, WorldCom Scandals and is from 2003.
In other words, we've been here before, three times now actually in less than 10 years.
Attorney General Spitzer sees the formation of the megabanks as the basic cause of the mushrooming abuses on Wall Street. "The problem at its root is a flawed business model," asserts Spitzer, "and that business model is the product of a government regulatory decision to repeal Glass-Steagall, and to seek this tremendous concentration of power [in superbanks], and then the abuse of that power by the investment houses