[LA Times] Reporting from Washington -- The Obama administration this week will propose the most significant new regulation of the financial industry since the Great Depression, including a new watchdog agency to look out for consumers' interests.
Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies -- such as insurance giant American International Group Inc. -- whose failure jeopardizes the financial system. Currently, the government's authority to seize companies is mostly limited to banks. More here:
Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies -- such as insurance giant American International Group Inc. -- whose failure jeopardizes the financial system. Currently, the government's authority to seize companies is mostly limited to banks. More here:
Hmmmm ... "the government would have new powers to seize key companies." Sure, sounds harmless to me. It's probably for our own good.
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1 comment:
Yes it will be for our own good. I mean the fed's are so good at spending our money now. If we just give them more (and we will) they can spread it around more and everyone will feel good.
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