>>Though, I find Gramm's announcement about "stability" to be a nice ironic touch. The government regulation, if I remember my history and political economy courses well, was introduced to prevent the boom/bust cycles or at least make them easier. I expected deregulation to bring them back, sooner or later.
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>The original bill came about after the 29 fiasco (if you read it you can see). It was meant to avoid that mess in the future (and what is happening now) . The bill was repealed in 1999 and now we have the results.

You said it better than I would.