It’s looking that way.
Observers had expected a drawn-out battle over Senate Democrats’ plans to overhaul the nations financial regulations in favor of more oversight and consumer protection. The Senate bill is being marked up in the Banking Committee beginning at 5 p.m. today.
But sources on and off Capitol More…
President Obama’s attempts to shame top bankers on Monday did little to make anyone think lending will suddenly flow freely and financial institutions will quit lobbying to undermine regulatory reform. And the fact that three of the nation’s top bankers literally phoned it in from New York because of early More…
The Obama administration is considering stripping the Securities and Exchange Commission of some its oversight powers, and shifting that responsibility to the Federal Reserve, Bloomberg reports.
The proposal, still being drafted, is likely to give the Federal Reserve more authority to supervise financial firms deemed too big to fail.
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