PREVIOUSLY: Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System
office of the comptroller of the currency
Treasury Secretary Calls For Supercharged Fed, Streamlined Regulatory System
By 3.29.08
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.
New York Times To Congress: Fix Our Broken !@$% Banking System!
By 8.1.07
The New York Times published an editorial damning Congress’ unwillingness to protect consumers from a rising tide of unreasonable fees and penalties that have boosted the financial sector’s bottom line, while impoverishing millions of Americans.
