Hey, guess what! Contrary to popular opinion, Gramm-Leach-Bliley is not responsible for the current financial crisis. I know that this may come as a shock to all of those people who believe that Phil Gramm is at the root of all evil, but there it is. In other surprising news, John Milton did not give Phil Gramm a role in Paradise Lost as a minion of Satan. Glad we got that cleared up.
Hey, guess what else! Contrary to popular opinion, Glass-Steagall was a dumb law. See also this. Again, those people–and you know who you are!–who believe that Phil Gramm was a one-man wrecking crew who annihilated the United States economy are going to have to rethink a few things.
But of course, those people make up the “reality-based community,” so presumably, this shouldn’t be hard.