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Sec Powers May Be Handed Over To Fed

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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.

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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.

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http://www.bloomberg.com/apps/news?pid=206...&refer=home

Create 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.

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