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WASHINGTON (AP) — Three officials who played vital roles in combating the 2008 financial crisis say they worry that the painful lessons from the banking system's near-collapse a decade ago may be forgotten.
"It is important that people focus on the lessons," says former Treasury Secretary Henry Paulson. "We are not sure people remember everything they need to remember."
Paulson, who was at Treasury's helm when the crisis erupted, and Timothy Geithner, who succeeded him in 2009, joined Ben Bernanke, the former Federal Reserve chairman, at a discussion last week in advance of the 10th anniversary of the crisis.
The turbulent period, in which key institutions, including Lehman Brothers, Bear Stearns, Fannie Mae, Freddie Mac and American International Group either failed or nearly did, marked America's worst financial crisis since the Great Depression.
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