Sure they existed but I always felt like the Glass-Steagall kept things separate enough and things really blew up when you had the banks merging with investment

Sure they existed but I always felt like the Glass-Steagall kept things separate enough and things really blew up when you had the banks merging with investment banks. They then had the mortgage product pipeline and the derivatives instruments to offload them. The guys who exploded did so because they were over leveraged and could not cover the margin call when the market dipped. Oh and also didn’t get a bail out, they were just instantly insolvent. I’ve slept since then but that’s how my brain seems to remember it.