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Financial reform: Where big banks win

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Far from a broadside to the Masters of the Universe, the Dodd-Frank bill will benefit the biggest banks at the expense of smaller institutions. Newsweek’s Michael Hirsh has a good piece today on this that concludes, “Dodd-Frank effectively anoints the existing banking elite.” I’ve been making this argument and prediction all along — what the Democrats have called “reform” is a gift to the...

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