All of a sudden, after Germany and France, especially, at the G20 meeting mentioned the need for tougher regulation of the financial sector before more stimulus programs get passed…
All of a sudden, Treasury Secretary Tim Geithner is working on a list of financial sector reforms, to be done before the April 4 G20 meeting, so the U.S. can “take the lead” on the issue.
Beyond trying to stay ahead of the G20, Geithner and President Barack Obama are also trying to stay ahead of Rep. Barney Frank, who has some more aggressive, relatively speaking, reform ideas.
Otherwise, agreed that not only Fed powers, but Fed responsibilities, need to be spelled out, and that all financial regulatory institutions need to be more carefully integrated.
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