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Retail Banks Can Expose Depositors' Funds to the Same Types of Extreme Risks as Investment Banks
Aaron Greenspan, October 10, 2011 at 2:20 AM EDT
In 1999, largely for the benefit of Citigroup, the Gramm-Leach-Bliley Act repealed the Glass-Steagall Act of 1933, which for seven decades had been successful at preventing banks from gambling with customer deposits. The Glass-Steagall Act had delibe...
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