The Gramm-Leach-Bliley Act, enacted in 1999, marked a significant deregulation of the financial services industry by repealing key provisions of the Glass-Steagall Act. This legislation allowed commercial and investment banks to merge, expanding the range of financial services available. The act's implications contributed to the financial landscape leading up to the 2008 financial crisis, highlighting the complexities of financial regulation and its impact on the economy.

The deregulation and Gramm-Leach-Bliley Act of 1999 shaped late 20th-century literature, prompting poets to explore themes of inequality and finance capitalism. This neoliberal shift influenced a critical examination of cultural commodification in contemporary poetry.