Sunday, June 21, 2009

Obama Proposes New Financial Industry Regulation

This plan will give the United States government new power to seize key companies whose failures jeopardize the broken financial system, as well as creation of a watch agency to look out for consumer’s interests.

By Jim Puzzanghera
16 June 2009
Reporting from Washington DC — Obama administration this week will propose the most significant new financial industry regulation since the Great Depression, including a new watchdog agency looking out for consumer’s interests.

Under this plan, expected to be released Wednesday, the government woill have powers to seize key companies, such as: insurance huge American International Group Inc. Its failure jeopardizes the financial system. Currently, the government’s authority to seize companies is mostly limited to banks.

--David July


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2 comments:

David said...

This is just a test

Ramji Babasaheb said...

it is the great plan of financial system.thank you for sharing..

FCA investigations|Financial industry regulation

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