[nobodyandproud]

Wouldn’t Glass Stegall have made mortgage backed securities difficult if not outright impossible to create?

[rjtavares]

No. It could have prevented some banks from owning them directly, and that could have cointained their growth, but we don't know really.

Crisis would happened anyway for sure, but the scale could have been smaller. But it's hard to do what-ifs.

[vonmoltke]

Since mortgage-backed securities have been a thing since the mid 1980s, no.