Summers pushed to the repeal of your Glass-Steagall, which was produced following the Wonderful Despair to wall off standard commercial banking action with the Wall Avenue casino. The repeal authorized commercial banking institutions to merge with investment decision banking institutions, securities corporations and insurance coverage organizations, creating "also major to fail" behemoths and unleashing an era of reckless speculation.
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reviews that many of Mr. Summers's supporters "argue that better oversight of derivatives wouldn't have prevented or appreciably diminished" the 2008 money crisis. One particular previous Treasury official told the Instances
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