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During the Second World War and for several more years, financial managers adjusted to the new rules and regulations put into place during the New Deal and began to finance the private sector again. But over time the legacy of financial excess in the 1920s faded. By the 1960s, managers and owners who had dominated during the Great Depression were retired or fired, giving way to a new generation of financial leaders. Within that generation, the most dominant banker was Walter Wriston of Citibank. More than any other figure, Wriston—as CEO of one of the world’s largest financial institutions from 1967 to 1984—pushed the boundaries of American banking. No one, thus far, has been his equal.
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Fullerton, Don. “Tax Policy.” In American Economic Policy in the 1980s, edited by Martin Feldstein, 165–233. Chicago: University of Chicago Press, 1994.
Kaufman, Henry. 1986. Interest Rates, the Markets, and the New Financial World. New York: Times Books.
- The Dominance of Walter Wriston
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