Our country has been through economic Hell the past three years. (See the report of the Financial Crisis Inquiry Commission, www.fcic.gov.) The turmoil that began in 2008 with the collapse of Bear Stearns and Lehman Brothers and continued with the failure of American International Group (AIG),...

On November 12, 1999, President Clinton signed the most significant piece of financial services regulation to be enacted since the Great Depression, at least up to that time. When the Financial Service Modernization Act of 1999, better known as the Gramm-Leach-Bliley Act (GLBA), was signed, the...