Larry Summers: Here’s what Bernie Sanders gets wrong – and right – about the Fed - The Washington Post: "Second, the Balkanized character of U.S. banking regulation is indefensible and would be ended. The worst regulatory idea of the 20th century—the dual banking system—persists into the 21st. The idea is that we have two systems — one regulated by the states and the Fed and the other regulated by the Office of the Comptroller of the Currency — so banks have choice. With ambitious regulators eager to expand their reach, the inevitable result is a race to the bottom.
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