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Excerpt from PolitiFact -- "Lawrence White, an economist at New York University, doesn’t see Glass-Steagall playing any role in the financial crisis whatsoever. He pointed to the crisis’ biggest culprits: firms such as Lehman Brothers, Bear Stearns, Goldman Sachs and AIG, to name a few. He added that much of the crisis hinged on activity by these institutions that would have been possible with or without Glass-Steagall, such as mass investment in notoriously bad mortgage loans. (Clinton’s staff linked us to commentary by several other experts who share White’s view.)"

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