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Geithner too has a record of being too easy on banks, first when he ran the New York Federal Reserve and later as Treasury Secretary. Under his watch at the NY Fed, which bore prime responsibility for money center bank regulation, Citigroup built itself into the time-bomb which eventually went off. A requirement for quarterly risk reports put in place before he took office in 2003 was lifted while he was in charge as was a ban on major acquisitions.
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