Vic, sent me this post from the always lucid Megan McCardle who rebuts my claim that Phil Gramm got us into the bailout mess. She may be right and I may be suffering from one of my New Deal propagandized high school teachers. On the other hand, the many replies to her post add up to a lively debate. I think she oversimplifies. Even if I am wrong about Glass-Steagall I believe that the GOP has made deregulation so sacred that we can trace most of the current financial melt down to it.