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He suggested that Wilson take a from leave Goldman. Kindler became concerned that Wachovia was just buying time while the bank worked on another deal, probably with Goldman. Back in 1990, the junk bond giant Drexel Burnham Lambert had collapsed without taking the markets down, but they had not been as fragile then, nor had institutions been as entwined. Financial deregulation in the US at this time laid the foundation for the financial system we have today.

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