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Wall Street’s favorite myth just got busted: The rise of “shadow banking” and the fall of GE Capital

The Dodd-Frank Act is a sprawling work of hundreds of provisions encompassing the entire financial sector. Singling out one development and insisting it shows Dodd-Frank “working” is an act of either tremendous partisanship or misinformation. In reality, it’s a testament to how big the financial system is – too big, in fact – that you can build as compelling a roster of evidence about Dodd-Frank successes as you can about its failures.

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