Glass Steagall au contraire

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.