Cogito

From FED to Single Banking Regulator

Posted in Uncategorized by qmarks on November 10, 2009

Seems like recession is tailoring regulatory bodies in every segment of financial bodies. The strangest proposal comes from Chris Dodd, Chairman of Senate banking committee. He proposes a single bank to regulate the financial industry instead of federal reserve system and FDIC. I have not read his full proposal but I guess his idea stems from abusive selling of mortgages and credit cards.

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