Treasury Dept. Seeks New U.S. Power to Keep Markets Stable

Treasury Dept. Seeks New U.S. Power to Keep Markets Stable

www.nytimes.com

WASHINGTON — The Treasury Department will propose on Monday that Congress give the Federal Reserve broad authority to oversee financial market stability, in effect allowing it to send SWAT teams into any corner of the industry or any institution that might pose a risk to the overall system.

The proposal is part of a sweeping blueprint to overhaul the country’s hodge-podge of regulatory agencies, which many specialists say failed to recognize rampant excesses in mortgage lending until after they triggered what is now the worst financial calamity in decades.

According to a summary provided by the administration, the plan would consolidate what is now an alphabet soup of banking and securities regulators into a trio of overseers responsible for everything from banks and brokerage firms to hedge funds and private equity firms.

While the plan could expose Wall Street investment banks and hedge funds to greater scrutiny, it avoids a call for tighter regulation. The plan would not rein in practices that have been implicated in the housing and mortgage meltdown, like packaging risky subprime loans into securities carrying AAA ratings.

The Fed would also be given some authority over Wall Street firms but only when an investment bank’s practices posed a threat to the financial system over all.

The plan does not recommend tighter rules over the vast and largely unregulated markets for risk-sharing and hedging, like credit-default swaps, which are supposed to insure lenders against loss but became a speculative instrument and gave many institutions a false sense of security.

(visit the link for the full news article)

OK conspiracy theorists.......here it is.. The FED and treasury want more power!!!!

Go nuts!!!!!

www.nytimes.com
(visit the link for the full news article)

Well they have built the coffin and we the people are in it now.In my opinion this would be the nail in the coffin.

My god, im actually beginning to think that the NWO is actually here!'

No more of "THE NWO IS COMING"......ITS ACTUALLY FREAK'n HERE!

The creation of the federal reserve was unconstitutional. Why would the sheeple stand up now at the end of the Heist? They will be hoping that the criminals who ripped them off will show them a little kindness and leave them with their clothes.

We can authorize our own destruction all day long, but other countries don't have to play along. As the Private Banks who lend money to our government destroy our dollar, other countries have and will stop financing our debt. Without that financing the dollar will collapse and they will print more. Hyperinflation Weimar style.

This is beyond insane. Please tell it won't be just Ron Paul opposing this in the U.S. Legislative branch?

Has everyone in the USA gone barking mad? Why can't you see what is happening to you and rise up and stop it?


You need to abolish this phony Central Bank of yours and re-create the dollar with precious metal backing. Your Congress needs to fulfill its Constitutional obligations with money and not farm it out to the lunatics as they have done throughout most of the twentieth century.

I don't know what to say.... I'm speechless for the most part. Time to watch the country slide down slippery slope into a vat of crap. Isn't it great to be American.

reply to post by Osiris1953


Actually I love being an American. Would not think of living anywhere else!!!!

I thought I read today that 30 Asian countries had a meeting and decided to put 1 trillion dollars of their sovereign wealth funds into each others Bonds instead of US Bonds. Maybe this was a secret meeting since one person made the post and I haven't seen anything else about it. Hopefully the dollar won't crash now. A slow decline would be much better than a crash are the comments I keep occasionally see pop up by someone posting it.

reply to post by orionthehunter


It would be very wise on their part to start investing in each other at this point. A 'slow' decline will allow many americans to pick out a better cardboard box and tarp than they might be able to find otherwise.

reply to post by traderonwallst
Blatant market manipulation. And they don't even care if we know any more? I thought the stock market was suppose to be a risky game. Are they trying to fix it so that nobody looses money anymore? This is too much. It's time to get rid of the federal reserve. (reserve my ass) Crash their monopoly game! Down with their dollars. Crash the economy. Crash and burn! No more worthless funny money.

Currently long the US$ baby! This is the bottom!!!!!!!!!!!

I would be more comfortable shorting investment firms and buying food commodities like Jim Rodgers, however the market needs a distraction...maybe an alien invasion or a new messiah... either way the GNP will go up and we can keep pretending were are not in a recession.

...or just DUMP the US DOLLAR
let it fail and take all the upside down derivative heavy banking institutions with it...oh no, if the dollar fails and the banks go out of business we'll all die !!!

Really ?....I am willing to take the chance that a severe market correction will be the best that has happened to the world since 1913...

..but we'll never know, as the FED,just like the Architect in the Matrix will keep

"perpetually delaying the inevitable" a few distractions people forget, then lather , rinse and repeat !!! suckers !

According to a summary provided by the administration, the plan would consolidate an alphabet soup of banking and securities regulators into a powerful trio of overseers responsible for everything from banks and brokerage firms to hedge funds and private equity firms.

Just remember the saying:

"If you put all your eggs in one basket, you had better watch that basket Very carefully!"


And let us not forget that "consolidization of Authority" is vital to the centralization of Control; in effect, this is the Powers That Be taking bold, un-ambiguous steps toward further exclusion of "outside oversight".

I'm not so sure that the hyperinflation that would be required to fight a derivatives meltdown in the Hundreds of Trillions would be easy to distract from. Nationalism, War and 'patriotism' may be the only distraction people would buy into. Hello, Facism.

War for Oil may not be as unpopular as it is today. And being broke, our victory will not be assured. The Population Bomb and Peak Everything is catching up with us.