Paulson unveils financial plan

[SAT]

The Bush administration is proposing the most sweeping overhaul of the financial regulatory system since the Great Depression.

The plan would change how the government regulates thousands of businesses from the nation's biggest banks and investment houses down to the local insurance agent and mortgage broker.

Treasury Secretary Henry Paulson unveiled the 218-page plan in a speech in Treasury's ornate Cash Room. He declared that a strong financial system was important not just for Wall Street but also for working Americans.

The administration's plan was already drawing criticism from Democrats that it does not go far enough to deal with abuses in mortgage lending and securities trading that were exposed by the current credit crisis.




http://news.yahoo.com/s/ap/20080331/...ed_overhaul_54

[SAT]

Re: Paulson unveils financial plan

But he admits.....

"I am not suggesting that more regulation is the answer or even that more effective regulation can prevent the periods of financial market stress that seem to occur every five to 10 years."

Which leaves me with the question....
So why are they doing it?

[N1095A]

Re: Paulson unveils financial plan

How about a common world currency? Already proposed and received the Nobel Peace Prize in Economics in the late 1990's.

There actually IS an advantage. But we know what it will eventually become.

[SAT]

Re: Paulson unveils financial plan

Really?
As I read this article I felt like it was saying the government was surrendering parts of the government to the Federal Reserve. Almost like putting it on equal or even higher footing then the government. Would this be right?

[RollingAlong]

Re: Paulson unveils financial plan


Fed eyes Nordic-style nationalisation of US banks

http://www.telegraph.co.uk/money/mai...1/cnfed131.xml

The US Federal Reserve is examining the Nordic bank nationalisations of the 1990s as a possible interim solution to the US financial crisis

Here we go! The move towards NWO/OWG is rapidly advancing.