Good Point

Jonathan Taplin emphasizes why we are having the current chaos with the investment banks: the destruction of the Glass-Steagall act, which the Clinton Administration enthusiastically supported. Another good reason to support Obama!:

[Quoting] Paul Krugman:

Wall Street chafed at regulations that limited risk, but also limited potential profits. And little by little it wriggled free — partly by persuading politicians to relax the rules, but mainly by creating a “shadow banking system” that relied on complex financial arrangements to bypass regulations designed to ensure that banking was safe.

But never once in the whole article does he point out who yielded to the enticements of Wall Street--who was responsible for destroying the Glass-Steagall separation of Banks and Investment Banks--Bill Clinton.