Why was the Glass Steagall Act repealed 60 years later?

Question

How much do you think this has to do with the Subprime Mortgage Crisis?

Answer 1

So banks could get invovled in investment type operations such as CDOs and SIVs.  Banks lobbied long and hard for the repeal and most likely spread around a lot of campaign contributions to get the job done.

It was no doubt a contributing factor.  But in my opinion about 85% of the problem was contributed by Alan Greenspan and is zero interest rates of 2001-2006.  Hey money was free.  Why not take some of that free money and use it to flip houses and condos.