I’ve been wondering is they are going to put the Glass Steagle Act back in place….
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No Glass-Steagall revival
From 1933 until 1999 the Glass-Steagall Act separated banking to avoid conflicts of interest: Investment banks are high-risk gamblers playing with other people’s money, raising capital, trading, crafting merger deals and earning commissions. Commercial bankers have a fiduciary responsibility to conserve capital and minimize depositors’ risk; they earn salaries. In 1999 Congress tore down that wall.
Citigroup merged the two, became a financial supermarket, and has since lost 90% of its stock value, contributing to the meltdown. Still, last year Morgan Stanley and Goldman Sachs became bank holding companies to engage in both businesses and get free TARP money. Reviving Glass-Steagall would hurt them, and delay a new bull.

The repeal of Glass Steagle was a very direct cause of the current crisis and there are no plans to bring it back. There’s a lot of partisan bitching and complaining but this is a very real problem.