[condor]

another great quote . . he even got the timing right

''I think we will look back in 10 years' time and say we should not have done this but we did because we forgot the lessons of the past, and that that which is true in the 1930's is true in 2010,'' said Senator Byron L. Dorgan, Democrat of North Dakota. ''I wasn't around during the 1930's or the debate over Glass-Steagall. But I was here in the early 1980's when it was decided to allow the expansion of savings and loans. We have now decided in the name of modernization to forget the lessons of the past, of safety and of soundness.''

besides the s&l crisis, the long term capital blowup seems to be another good comp in hindsight.

[mikeryan]

I was going to post the same quote. The esteemed senator from North Dakota should have "I told you so" tattooed on his forehead.

[Xichekolas]

Or rather, everyone who voted for it should have "Senator Dorgan told me so" tattooed on theirs...