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Financial Reform Finally Gets It Right...Sort Of

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How does Congress's latest attempt at financial reform compare to previous efforts?

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Congressional negotiators are continuing to work this week on merging two bills to overhaul the US financial system. At stake are new regulations that could fundamentally change how banks like Citigroup (C), Bank of America (BAC), Goldman Sachs (GS), JPMorgan Chase (JPM), and Morgan Stanley (MS) conduct business.

But this isn't the first time government has tried its hand at financial reform. Both the Glass-Steagall Act of 1933 and the Gramm-Leach-Bliley Act of 1999 tried to regulate the financial system with varied results.

So how does the latest bill compare to these previous efforts?

Click below to watch the video.

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