Don't Get Fooled Again
The Fed botched banking regulation once already. So why does Obama want to give it more power?
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.