During the recession, the Glass-Stegall Act regulated banks not
allowing them to cross state lines, perform investment banking, and
other restrictions. Then in the early 1980s the regulations were slowly
chipped away until 1999 when Glass-Stegall was completely repealed.
The SEC was created during the depression to regulate the stock market.
Eventually by 2000, it became more of an arm of wall street than a real
regulator.
