At what point did the banking laws become useless?

Question

For years we have been told by smug economists that the problems that caused multiple bank failures in the great depression could not repeat themselves.

Ahhhh but now it seems they have.

At what point did laws preventing banks from going belly

up because of bad investment practices get undone?

An honest answer from a person educated in economics is what I seek, not just a partisan opinion.

Let's see if answers can deliver....

Answer 1

Simple, but it has nothing to do with economics!  It was when the first US Senator and US Congressional Representative opened his office door and let in the first Banking and Financial Industry lobbyist.  And that AINT partisan, its the plain blunt dirty truth and anyone who says its not is probably a politician, impossibly naive or works in the financial sector.... As the Apostle Paul said so well, "Am I become your enemy because I tell you the truth?" Romans or Corinthians I think, or possibly Acts,  cant remember.