U.S. lawmaker unveils financial firm break-up plan |
Reuters - Nov 18, 2009 |
A senior U.S. lawmaker unveiled a much-anticipated proposal on Wednesday that would give government regulators the power to break up financial firms that pose a risk to economic stability.
Democratic Representative Paul Kanjorski, chairman of the House capital markets subcommittee, said his proposal would give that power to a Financial Services Oversight Council, subject to review by the president in some cases.
He offered the plan as an amendment to a bill being debated and amended this week by the House Financial Services Committee as part of a broad push by the Obama administration and Democrats to tighten bank and capital market regulation.
Read Full Article from Reuters
- Posted: 2009-11-18 11:40:13
More Stock Investor Place Top Stories |
|
|
|
Stock Investor Place Top Stories Archive |
|
|