Here’s the money quote from Treasury Secretary Tim Geithner, interviewed Monday by CNN about the role of government in regulating Wall Street:
The financial markets are too important to the economy to be left to the markets alone. You need a strong framework of regulations, a much stronger
The Washington Post reports that President Obama today will roll out his plan to increase regulation of the financial system.
The plan seeks to overhaul the nation’s outdated system of financial regulations. Senior officials debated using a bulldozer to clear the way for fundamental reforms but decided
The Democrats’ bill placing the tobacco industry under the oversight of the Food and Drug Administration is on its way to the White House, having passed the Senate today, and party leaders are patting themselves on the back for their accomplishment. (Some lawmakers, after all, have been pushing this More…
The Senate this morning is poised to vote on a historic bill empowering the Food and Drug Administration to regulate the tobacco industry for the first time. The proposal, approved by the House in April, is expected to pass, but not without opposition from Southern lawmakers hoping to protect their More…
The Washington Post, this morning:
Senior administration officials are considering the creation of a single agency to regulate the banking industry, replacing a patchwork of agencies that failed to prevent banks from falling into the worst financial crisis since the Great Depression, sources said.
Bloomberg, today:
House Financial Services Committee
There are plenty of noteworthy quotes in the Peter Baker piece on former President Bill Clinton in The New York Times Magazine, and the published interview transcript that accompanies it. So far, this strikes me as the noteworthiest; while addressing criticisms of his administration in light of recent More…
That’s perhaps the boldest declaration in the joint statement from G-20 world leaders meeting today in London.
The communiqué, which pledges $1.1 trillion in global stimulus spending and tighter supervision and regulation of the global economy, did not commit the leaders to another round of stimulus More…
President-elect Barack Obama is expected to tap Cass Sunstein, a Harvard constitutional scholar and contributor to The Washington Independent, to lead the Office of Information and Regulatory Affairs, according to the Chicago Tribune.
From the Trib:
A low-profile position in the current administration, the job is likely to
Bring on the finance regulations.
That’s the message this week from a growing number of Democratic leaders, who are increasingly irritated by the reluctance of the financial industry to put capital it received from the Bush administration’s $700-billion bailout to work.
Lenders not lending. Executives keeping large pay packages. More…
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