Bush Overhauls the Financial System
Mar 31st, 2008, 03:10 AM
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Bush Overhauls the Financial System
Hi All,
From http://tinyurl.com/2w854c
"The 200-page document, which was to be released Monday by Treasury Secretary Henry Paulson, proposes giving broad new powers to the Federal Reserve to combat the type of severe credit crisis currently gripping financial markets".
Plus two new agencies.
Having brought on the current crisis ($450B of taxpayer money and rising) through lax enforcement of those rules that it didn't remove, the current crop of "conservatives" will "solve" the problem they created by expanding the regulatory bureaucracy.
"In addition to the Fed as a "market stability regulator," the plan would create a "prudential financial regulator" for the nation's banks, thrifts and credit unions,...
The third new agency would regulate business conduct and consumer protection,...".
Yeah, sure.
From http://tinyurl.com/2w854c
"The 200-page document, which was to be released Monday by Treasury Secretary Henry Paulson, proposes giving broad new powers to the Federal Reserve to combat the type of severe credit crisis currently gripping financial markets".
Plus two new agencies.
Having brought on the current crisis ($450B of taxpayer money and rising) through lax enforcement of those rules that it didn't remove, the current crop of "conservatives" will "solve" the problem they created by expanding the regulatory bureaucracy.
"In addition to the Fed as a "market stability regulator," the plan would create a "prudential financial regulator" for the nation's banks, thrifts and credit unions,...
The third new agency would regulate business conduct and consumer protection,...".
Yeah, sure.
