Geithner proposes systemic risk US super regulator
The US Treasury is planning a regulatory revolution in US systemic supervision
The US needs "a single systemic regulator", said Treasury secretary Tim Geithner, addressing the House Financial Services Committee last Thursday. When some Republican members baulked at plans for a "super regulator" to replace the current hotchpotch of authorities created in response to the 1930s financial crisis, Geithner dismissed expectations of "turf wars" between existing regulators, saying a shift is needed to move regulation to focus on the economic function and risks provided by firms
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