Big bank oversight to stay with Fed

[cory777]

Source: Financial Times

By Tom Braithwaite in Washington

Published: March 7 2010 22:30 | Last updated: March 7 2010 22:30

Banks with more than $100bn of assets will be overseen by the US Federal Reserve under a regulatory reform plan that represents a partial victory for the central bank after months of attacks in Congress.

Chris Dodd, the Senate banking committee chairman, had proposed hiving off all bank supervision to a single regulator but is set to propose this week that the 23 largest institutions stay under the Fed’s oversight, according to people familiar with the plans.

At issue over the weekend was the regulation of several hundred state chartered institutions that also want to remain under the Fed’s supervision.

Read more: http://www.ft.com/cms/s/0/0f1b6822-2a2c-11df-b940-00144feabdc0.html?nclick_check=1

[truthisfreedom]

1. Sickening.

[depakid]

2. Storm's a brewing come November...

[Demeter]

3. Dodd's Trying to Do As Much Damage As Possible

before he retires to K Street.

[ozymandius]

4. Ignorant sycophant. Dumber than dirt.

I guess he thinks the Fed's oversight of the Banksters should remain there because that has worked out so well in the past. :eyes:

[dipsydoodle]

5. At least you'll know

who to blame.

[sendero]

6. They have to continue to hide..

.... the sad facts about these big banks. Most of them are insolvent, depending on a real estate recovery that is not going to happen to regain health.

One wonders what new rabbit they are going to pull out of what new hat to solve this problem.

[AllentownJake]

9. It will be quite interesting to see it when they do

I see a ticking time bomb that has a clock counting down with refinancing needed in the commercial real estate market that is set to start going off in September 2010 and won't stop going off till September 2011.

[pjt7]

7. Chris Dodd

will not win this fight.

I urge all CT DU'ers to do their proper citizen work & put the PRESSURE on him. Connecticut has let this guy & Joe Liberman betray us.

[dixiegrrrrl]

8. What pressure could affect Dodd?

He is not running again.

He is bought and paid for and his job as a lame duck is to give away as much of the store as he can in the few months he has left. Then he will be off to his reward as a richly paid board member of a bank or something similar.
the guys who ARE running again are just taking turns being good cop bad cop.

look, the flat out truth is most of Congress is bought and paid for. The few exceptions
do not have the power to make any significant difference. Look at all the bills Kucinich has introduced...how many of them are law by now?

Until enough people in this country realize we no longer have a representative democracy,
nothing can be changed from the ground up.
Period.

[No Elephants]

11. We have representative governement, but not a representative democracy.

Most, if not all, in Congress are doing a fine job of representing their campaign contributors, but, apparently, that is not enough for you. You want democracy.

That's the trouble with voters. Too damned greedy.

[dixiegrrrrl]

12. Sigh........I know. Old dog, new tricks conundrum.

[scentopine]

10. It was a fight to the finish, the banks said "no", and Dodd said, "ok" -nt