R K Posted May 20, 2009 Share Posted May 20, 2009 http://www.bloomberg.com/apps/news?pid=206...&refer=home May 20 (Bloomberg) -- The Obama administration may call for stripping the Securities and Exchange Commission of some of its powers under a regulatory reorganization that could be unveiled as soon as next week, people familiar with the matter said. The proposal, still being drafted, is likely to give the Federal Reserve more authority to supervise financial firms deemed too big to fail. The Fed may inherit some SEC functions, with others going to other agencies, the people said. On the table: giving oversight of mutual funds to a bank regulator or a new agency to police consumer-finance products, two people said. Create crisis, take down weak players, consolidate power base. Seems to be going to plan. Quote Link to comment Share on other sites More sharing options...
CokeSnortingTory Posted May 20, 2009 Share Posted May 20, 2009 This is insane. It's the Fed that needs stripping. The USA is committing suicide before our very eyes. Quote Link to comment Share on other sites More sharing options...
Injin Posted May 20, 2009 Share Posted May 20, 2009 This is insane. It's the Fed that needs stripping.The USA is committing suicide before our very eyes. Fevers have to break. This one is nasty. I just hope there aren't millions of deaths, that's about the best that can be hoped for while they contimue on this course. Quote Link to comment Share on other sites More sharing options...
Compukit UK101 Posted May 20, 2009 Share Posted May 20, 2009 Everything is proceeding as I have foreseen it. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted May 20, 2009 Share Posted May 20, 2009 Quote Link to comment Share on other sites More sharing options...
tomwatkins Posted May 20, 2009 Share Posted May 20, 2009 http://www.bloomberg.com/apps/news?pid=206...&refer=homeCreate crisis, take down weak players, consolidate power base. Seems to be going to plan. Kharma Hit the nail on the head. Just back from a conference in Ohio. Attended by the Chief of the Dallas Fed, Steve Leisman (CNBC) and a few others. Very interesting-the nerve of these people (the Fed guys) is astounding. This was the Fed guys parting shot (verbatim)-and he was serious "we have the best financial, economic minds in the world at the Fed. Despite what people think we are always right at the time. Situations may change in the future to make that forecast wrong but that is neither here nor there". Neither here nor there-go figure. He was one arrogant SOB and that's the problem. PS Off Topic. Counting down to Rome. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted May 20, 2009 Share Posted May 20, 2009 Give the Fed more powers that will help. Quote Link to comment Share on other sites More sharing options...
Prime Realist 8 Posted May 20, 2009 Share Posted May 20, 2009 I just hope Jaja Binks isn't standing in for Amidala in congress when they vote on this one. Quote Link to comment Share on other sites More sharing options...
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