Consumerist
deckchairs on the titanic
Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System
Treasury Secretary Henry Paulson wants to consolidate the nation's financial regulators into a tripartite gang that can save the economy from distress and doom. The plan to give the Federal Reserve broad new regulatory powers and streamline the regulatory community has been in the works since last March, before the start of the subprime meltdown. Paulson is worried that the U.S. markets are no longer competitive with maturing world markets, some of which aren't hampered by nuisances like regulation. After the jump we'll explain the consumer impact of the plan and introduce you to your three new regulators. More »
4:38 PM on Sat Mar 29 2008
By Carey
3,788 views,
46 comments
Latest by Charles Duffy: @Mr. Gunn: That's not to say that all risks are the same, or that people don't have the ability (when deciding which part of the country to live in) to mitigate those risks. I'll take tornados over earthquakes or flooding any more »
