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shadow banking system

No Big Fix for Global Finance

New regulations will be tepid—and will leave the global financial system, and taxpayers, at risk
Original publication date: 
Wednesday, September 9, 2009 - 00:00

World leaders are talking bravely about fixing the global financial system. As the Group of Twenty heads toward an important summit in Pittsburgh on Sept. 24-25, they are vowing to bang out a regulatory structure that will keep rich, careless bankers from once again driving their firms to ruin and then getting bailed out by taxpayers.

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