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... d profiting from loans were just the basic income of a bank. For rapid development, financial investments and private equity funds were indispensable.

Giannini was more concerned about Hardy’s mention of the insurance industry, particularly since Johnson had been keen on promoting "universal health care," a national health insurance plan.

But this would touch upon the interests of major insurance companies.

In 1945, Johnson had proposed a national health insurance plan to ...

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