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How Washington Caved to Wall Street

"In TIME’s recent cover story “How Wall Street Won,” Rana Foroohar gave an excellent appraisal of the last five years since Lehman collapsed. While her analysis hit at five of the major shortfalls in our “reformed” financial sector, there was even more she could have pointed to: Five years after the crisis, why have we not even begun putting the mortgage market on a sound footing? Why has so little been done about banks’ market manipulation? The LIBOR scandal is a major example.