Geithner calls on Congress to grant new powers to seize financial firms !!

LINK

Geithner says THIS while sitting next to none other than Ben Bernanke.


This is it folks! We all know that the Federal Reserve ownes the "government" and this is the endgame power play!

reply to post by bismarcksea


i read about this ... here's an excerpt from my source

President Barack Obama is considering asking Congress to give Treasury Secretary Timothy Geithner the power to seize non-bank financial companies -- such as insurers or hedge funds -- according to a report in Tuesday's Washington Post.

The measure, Administration officials hope, will allow the government to forestall an economic domino effect, such as was caused by the failure of the investment house Lehman Brothers last year.

The Post's story is based on an "administration document," which was not printed.

"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," the Post's Binyamin Appelbaum and David Cho wrote. "The Treasury secretary, a member of the president's Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to the document."

Source

I'm sure geithner wants the power, but it's not only him who is seeking it ... their are plenty of others in the obama administration that want him to have that power