Thursday, July 03, 2008

Treasury Secretary says FED needs more(?) "oversight" powers

...not oversight that would have prevented tax dollars from financing the Bear Stearns buyout, but more power to control the effects of the blowback propogated by it. [ ...Paulson said the U.S. Federal Reserve needs sweeping new powers to give it easier access to information on financial institutions, and to intervene to avert future crises...]

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