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:''The oligarchy of major U.S. financial sector firms succeeded in establishing a {{t|dogma}} of deregulation in American political circles and in using its considerable political influence in Congress to overturn key provisions of [[Glass-Steagall Act|Glass-Steagall]] and to dismantle other major provisions of statutes and regulations that govern financial firms and the risks they may take. In 1999 Congress passed the [[Gramm-Leach-Bliley Act|Gramm–Leach–Bliley Act]], also known as the [[Financial Services Modernization Act of 1999]], to repeal them.'' | :''The oligarchy of major U.S. financial sector firms succeeded in establishing a {{t|dogma}} of deregulation in American political circles and in using its considerable political influence in Congress to overturn key provisions of [[Glass-Steagall Act|Glass-Steagall]] and to dismantle other major provisions of statutes and regulations that govern financial firms and the risks they may take. In 1999 Congress passed the [[Gramm-Leach-Bliley Act|Gramm–Leach–Bliley Act]], also known as the [[Financial Services Modernization Act of 1999]], to repeal them.'' | ||
Fifty-seven years later, anyone who was there at the time was dead<ref>Except — irony alert! — [[Alan Greenspan]]. Though in fairness to the great [[Ayn Rand|Randian]] deregulator, even he was only six at the time.</ref>. And so the wheel turned full | Fifty-seven years later, anyone who was there at the time was dead<ref>Except — irony alert! — [[Alan Greenspan]]. Though in fairness to the great [[Ayn Rand|Randian]] deregulator, even he was only six at the time.</ref>. And so the wheel turned full circle. Just eight years later, [[Global financial crisis|everyone found out what Glass-Steagall was for]]. | ||
===[[Risk taxonomy|Risk taxonomies]]=== | ===[[Risk taxonomy|Risk taxonomies]]=== |