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As a world-class financial center, Wall Street functioned like a giant capital distribution hub, where retirement funds, insurance companies, and investment funds from across the U.S. and abroad used investment banks and various exchanges as intermediaries. This influence even extended to controlling the U.S. economy and, by extension, the global economy.

The notion that Wall Street controlled the U.S. economy wasn't merely an exaggeration; most of the top 500 companies in Americ ...

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