All countries have tools for getting things done. Politicians and America’s ombudsmen(voters) use these tools to get things done.
In 1999 a major American corporation had a need to get something done. The major American corporation purchased a corporation that was forbidden under the Glass-Steagall act. While the “secret” of the purchase was likely safe in the political atmosphere of 1999, someone wanted to remove the risk – anyway. There was the possibility that neocons would not always rule the roost. So the Glass-Steagall-Act was placed “within the sights” of America’s neocons.
With the neocon’s “cross-hairs” firmly fixed on the Glass-Steagall-Act the neocons “pulled the trigger”. And Glass-Steagall died. That was in 1999. Lets listen(again) to some of the things that Wikipedia said:
The Glass-Steagall provisions separating commercial and investment banking
The Glass-Steagall-Act focused away from mega-banks. The mega-bank idea(banks can do what they please) was replaced by rules which helped regulate their behavior. Glass-Steagall was the tool used by the Democrats to help kill America’s Great Depression which occurred in the late twenties and early thirties - under Republican management of America’s economy. Glass-Steagall helped bail America out of its Great Depression. Glass-Steagall did its job for 66 years. America’s economy was stable for 66 years.
The business problem that the Republican’s Gramm-Leach-Bliley-Act solved
[…] A year before the law was passed, Citicorp, a commercial bank holding company, merged with the insurance company Travelers Group in 1998 to form the conglomerate Citigroup, a corporation combining banking, securities and insurance services under a house of brands that included Citibank, Smith Barney, Primerica, andTravelers. Because this merger was a violation of the Glass–Steagall Act and the Bank Holding Company Act of 1956, the Federal Reserve gave Citigroup a temporary waiver in September 1998. Less than a year later, GLB was passed to legalize these types of mergers on a permanent basis. The law also repealed Glass–Steagall’s conflict of interest prohibitions "against simultaneous service by any officer, director, or employee of a securities firm as an officer, director, or employee of any member bank."[…]
America should be the highest priority of her politicians. She is over 200 years old so she should be well known to her ombudsmen(voters) and her politicians. When idiots or morons or others totally lacking in leadership qualities(defined by America’s systems) try to wreck America, they should be shown the door. Ferreting out the incompetents and the miss-guided is the task of the Electoral College. The Electoral College and America’s ombudsmen(voters) should be wary of any political party that wants to change a 200 + year- old success story with its own version(after having demonstrated nothing but train-wreck performances)
[Getting political things done - in America - should not undo America.]