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The financial “reform” act passed 10 years ago this week allowed for consolidation between commercial banks, investment banks, and insurance companies, blurring the distinctions between lines of business and regulatory oversight. The unintended outcomes of this transformation was an explosion in the volume of mortgage originations and the use high amounts of leverage by investment banks that ultimately threatened the stability of the financial system.

 

Submitted: Nov 10, 2009    Views: 66    Comments: 0    Likes: 1   


View Article: http://www.goodfinancialcents.com/financial-regulatory-reform/


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