And, of course, everything here in Obamerica is going according to plan...

So why not give Turbo Tax Timmy the power to seize non-banking financial institutions as well as banks?

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document. ...

Giving the Treasury secretary authority over a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process.

Posted by: DocJ at 10:08 AM | No Comments | Add Comment
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