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Why Washington Won't Prevent Another Meltdown

The U.S. can’t rely on the proposed House bill to protect the economy from another crash. Relying on regulators won’t work, says Jeff Madrick—instead, the government should start by dividing banking activities.

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Richard Drew / AP Photo
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Various financial experts, nearly all of whom failed to forecast the Crash of 2008-09, now claim that the answer to stanching future credit calamities is to rein in the giant financial institutions— somewhat.

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