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The article discusses the issue of preventing bailouts in the financial system. It highlights how the government's response to the 2008 financial crisis with bailouts led to increased risk-taking and the expansion of financial regulation under the Dodd-Frank Act. However, the recent pandemic crisis revealed that the reforms failed to prevent another bailout. The authors argue that the solution lies in financing risky bank investments with equity and long-term debt, narrowing the funneling of deposits, and allowing run-proof institutions to emerge. They emphasize the need for political will to overcome the powerful interests benefiting from the current system. [Extracted from the article]