from CNN Money
NEW YORK (CNNMoney.com) – Treasury Secretary Henry Paulson pressed for swift changes to how the nation’s financial system is regulated, including giving broader powers to the Federal Reserve following the dramatic near collapse of Bear Stearns in March.[…]
The plan is the boldest proposal to reform Wall Street since the Great Depression. It would grant additional powers to the Federal Reserve, including accessing information from financial institutions and allowing it to step in if the nation’s markets were again threatened by another Bear Stearns episode.
full article at http://money.cnn.com/2008/06/19/markets/paulson_regulation/?postversion=2008061912
This and Obama’s wealth redistribution is just what this country needs. Not!