The Fed botched banking regulation once already. So why does Obama want to give it more power?

Making government work better.
June 30 2009 4:22 PM

Don't Get Fooled Again

The Fed botched banking regulation once already. So why does Obama want to give it more power?

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Has any thought been given to refocusing on a financial services model that has more smaller institutions and fewer mega banks, thus diversifying risk?

Others, no doubt, will have more probing questions for the Fed; and President Obama, Treasury Secretary Timothy Geithner, and Congress should listen to them before they grant the Fed vast new powers.

Eliot Spitzer, the former governor of the state of New York, hosts Viewpoint on Current TV. Follow @eliotspitzer on Twitter.