The repeal obviously inflated the bubble. A friend of mine agreed with my reaction to it — we are not in the financial industry, but were aware of things, being interested in current and domestic as well as in world affairs. It was the repeal of Glass-Steagall, an obvious bubble-inflating sign, that led me to say I needed to round up investors' money to start a new mutual fund, the Icarus Fund.

So true. And it's no surprise we're seeing corporatism (whose meaning is not limited to, and is far from, business corporations, despite what so many ignorant lefties “think”) once more as a solution to all kinds of problems. It is not limited to an increasing government entwinement with large corporations as the model for managing the economy, but also with the “managed cartel” (airlines in the old days, for example), and “government-business partnerships” (and the mentality underlying it, with interventionism that ideally is done involving a few, large “private” parties that control or dominate some element or feature of the economy), the threat of happening next of which is materializing in the desire for private and public agents to “work together” as conceived in next month's economic “summit” now considered.

Do you really expect ObamaCo to correct the bubble-brained stuff? Look at the Dem legislative and policy record, to date. It includes a managed consolidation of the financial services. Don't be surprised if banks eventually absorb insurance (not limited to health “insurance”) sometime, if this trend continues.

AstroTurf from corporations? You've been watching too much TV news. Most the of the AstroTurf comes from the labor unions, which is why they all carry professional pre-printed signs. Corporations cut out the middle man and pay the politicians directly.

REREGULATE! And if someone in future generations wants to repeal it….slap them in the face with your 401K – HARD.

I doubt it. Keeping companies from becoming too big to extort customers, governments, or taxpayers is obviously essential to free markets.