No no no mah man. CRA was Carter's (D) Congress deal.
"You banks theah, no moah redlinin'! The poah must have whut
they can-NOT afford, because it is un, I say, UN-dignified foah
them to live in apahtments"
Repackaging started in the very end of GHWB and skyrocketed under Clintoon. Why didnt Bubba stop it.
Glass-Steagall, you wouldn't know from the Phil-Pitt Steagles.
Nothing to do with the repackaging and de facto ended with
Greenspan in 87 with the Citi-Travelers deal long before the collapse.
I was just thinking, it was/is really bad to do all of my banking insurin' and investing in the same place.Bad that the working / middle class had
access to financial paper/investments that not too long before were unavailable to them without huge outlays and load fees. Bad that the vaunted "middle" actually became stockholders. It exposed them to too much risk and an exercise of free will. 2% interest in savings with nothing but home equity increasing at 3% YOY shouldve been good enuf for the masses. BAD BAD BAD!!!!!