The Divide: American Injustice in the Age of the Wealth Gap Highlight

the repeal of the Glass-Steagall Act, which had prevented the mergers of commercial banks, investment banks, and insurance companies (this repeal led to the creation of megafirms like Citigroup), and Supreme Court decisions rolling back bans on interstate banking (which led to a string of mergers, resulting in the formation of giant national banks like Wachovia and Bank of America). In the finance sector at least, these changes allowed companies to be more enormous and difficult to regulate than they ever had been before.