How much serious is Geithner on regulating financial system?

Point number on is that his main issue is just banks and not the rest of the institutions…Investment bankers, private equities, hedge funds, etc..

Secondly the suggested regulator is Federal Reserve and many in Congress are opposing it. But my question is, isn’t the FED the regulator already!! They have filed in their responsibility over the last 25 years…and only misguide the public.

There is so much has been reported about the cool comfort having been established between the FED, Treasury and the top (Too Big to Fail) financial institutions within the US, does the FED have the band width to regulate them.

Get the Fed out of the bank regulatory business! How many times do we have to have financial crises to see that the current structure is corrupt and doesn’t’ work!! It’s a basic conflict of interest when Fed staff are paid with the reg funds collected from the banks! The Fed is a banking industry promoter, despite what they say or the general public thinks. A new independent Federal agency must be created staffed by true civil servants paid by the taxpayers at civil service salaries to get real supervision over banks, including commercial and investment banks and insurance companies.

KumarRaj

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