2017-05-19 —

``Warren tried repeatedly to get Mnuchin to explain what "21st century Glass-Steagall" is supposed to mean without separation of bank functions. Mnuchin threw out a bunch of noise about integrated banks not causing the financial crisis (though investment/commercial hybrids did provide the lion's share of the warehouse lending for mortgage originations that fueled the housing bubble, and hybrid bank Citigroup received the largest bailout of any financial entity), and how liquidity and lending would be affected by a Glass-Steagall type of separation (a common industry complaint).''

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