2min chapter

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Rise of Shadow Banking & Risks of a Financial Crisis | Lev Menand

Hidden Forces

CHAPTER

The Fourth Point in the Fence History

The banking act of 19 35 reforms the federal reserve and strengthens the board considerably. Then there's a whole story to tell that in the fifties and sixties, where the fed starts to nurture and support and tolerate the emergence of shadow banks. That's a key piece of the evolution that helps to understand what happened to day. But statutorily, there's the fourth point, is 19 77, 19 78, when the fed gets its so called mandate,. We can get into that.

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