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WASHINGTON – The White House told industry officials on Friday that it is leaning toward recommending that the Federal Reserve become the supercop for "too big to fail" companies capable of causing another financial meltdown.
According to officials who attended a private one-hour meeting between President Barack Obama's economic advisers and representatives from about a dozen banks, hedge funds and other financial groups, the administration made it clear it was not inclined to divide the job among various regulators as has been suggested by industry and some federal regulators.
Originally posted by PsykoOps
What's the point of having a cop if there's no penalty for the criminals?
Originally posted by Britguy
I think this video just about sums up the current state of affairs and presents a case for NOT having the Federal Reserve as the financial sector regulator.
Talk about clueless.... she'll go far!