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Submitted by Dryly 41 on

It's too bad President Bill Clinton, Treasury Secretaries Robert Rubin and Larry Summers or Phil Gramm and the GOP didn't think too much about "moral hazard" when they repealed the "strict supervision" aspects of Glass-Steagall in 1999. Deposit insurance, notwithstanding virtually all press stories saying Glass-Stagall was repealed, remained and does so today. The U.S. financial system is unstable today.