The bill that ultimately repealed the Glass-Steagall Act was voted into place and signed by Bill Clinton in 1999.  The vote in the senate for the act being in place was 90 to 8, while in the House the vote was 362 to 57. The banking companies were looking to repeal the act since the 1980s when the economy seemed to be stabilized.  this, as well as the fact that more money could be earned by banks by combining commercial and investment industries.