Politicians and citizens alike were pounding on the banks to lower their standards before the crash. Everywhere there was rhetoric about home ownership being a right, and that the evil banks were standing in the way. It's not like this was an evil scheme that the banks cooked up.
Erm - The politicians were being funded by banks and focus groups?
Heck de facto end/death of Glass Steagal was when Citi went ahead and merged with Travelers, even when they knew it would precipitate in a court case and most likely an end to the regulation
