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peaceandlove · 06-16-2009, 10:56 PM

Federal Reserve to Gain Power Under Plan

Targets dangers to economy

By Patrice Hill (Contact) | Tuesday, June 16, 2009
The Washington Times

The Federal Reserve, already arguably the most powerful agency in the U.S. government, will get sweeping new authority to regulate any company whose failure could endanger the U.S. economy and markets under the Obama administration's regulatory overhaul plan.

The final plan due to be released on Wednesday -- which originally aimed to streamline and consolidate banking and securities regulation in one or two agencies -- now is expected to sidestep most jurisdictional disputes and simply impose across the board standards to be applied by all financial regulators, according to administration and industry sources.

SOURCE and COMMENTS: http://www.campaignforliberty.com/wire.php?view=5880

06-16-2009, 10:56 PM	#2
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Federal Reserve to Gain Power Under Plan Federal Reserve to Gain Power Under Plan Targets dangers to economy By Patrice Hill (Contact) \| Tuesday, June 16, 2009 The Washington Times The Federal Reserve, already arguably the most powerful agency in the U.S. government, will get sweeping new authority to regulate any company whose failure could endanger the U.S. economy and markets under the Obama administration's regulatory overhaul plan. The final plan due to be released on Wednesday -- which originally aimed to streamline and consolidate banking and securities regulation in one or two agencies -- now is expected to sidestep most jurisdictional disputes and simply impose across the board standards to be applied by all financial regulators, according to administration and industry sources. SOURCE and COMMENTS: http://www.campaignforliberty.com/wire.php?view=5880 Last edited by peaceandlove; 06-16-2009 at 10:59 PM.