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One Year Later: What Has Changed?

Watch William H. Black on Bill Moyers' Journal from this time last year and then answer the question in the title.

To be clear in my intent, the brief question in the title should be expanded to:

"How much has changed with regard to the structure of the financial system and the risks it contains?"

My answer is:  Virtually nothing.

What is your answer?

Hat tip to Barry Ritholtz at The Big Picture.

Disclosure: No positions.