"US said to want Fed as finance supercop" by Anne Flaherty, Associated Press | May 9, 2009
WASHINGTON - The White House told industry officials yesterday that it is leaning toward recommending the Federal Reserve become the supercop for "too big to fail" companies capable of causing another financial meltdown.
Related: FDIC Takes on Fed
Fed Says Bank Bailout Unlimited
That's why she ain't getting it, huh?
Obama once again is stiffing you in favor of his controllers, America.
According to officials who attended a private one-hour meeting between President Obama's economic advisers and representatives from about a dozen banks, hedge funds, and other financial groups, the administration made it clear it was not inclined to divide the job among various regulators as has been suggested by industry and some federal regulators. "The idea of having a council of regulators was pretty much vetoed," said one participant.
Treasury Secretary Timothy Geithner said such a regulator should be given better visibility into all institutions that pose a risk to the financial system, regardless of what business they are in.
Does that include the WAR-LOOTING "DEFENSE" CONTRACTORS?
Officials from the Treasury Department and National Economic Council, which hosted the meeting, told participants the Fed was considered the most likely candidate for the job, according to several officials who attended or were briefed on the discussions.
The LAST THING WE NEED is MORE GLOBALISM and CENTRALIZATION, folks!
That's what CREATED THIS MESS -- that and the guys charged with "fixing" it for YOU, 'murkns!
You buy that crap anymore?
See: Leaked Agenda: Bilderberg Group Plans Economic Depression
The administration officials said a legislative proposal would likely be sent to Capitol Hill in June with the expectation that the House Financial Services Committee, led by Representative Barney Frank, a Massachusetts Democrat, would consider the measure before the July 4th recess....
Yeah, shove more shit the American public despises through Congress just before a holiday. They all need to take a swim in the Potomac, readers.
