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The Popular Narrative About Financial Deregulation Is Wrong
Norbert MichelAmericans are being fed a false narrative. As the story goes, in 1999, Congress repealed the 1933 Glass-Steagall Act. The financial sector was free from the watchful eye of federal regulators. Then in 2000, Congress deregulated derivatives, and all of this deregulation resulted in the financial mess known as the Great Recession of 2008. That’s…

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