Turf Battles Could Hamper Obama Plans for Regulation Reform

[SpartanDem]

WASHINGTON -- Obama administration officials are debating whether to pare some of their more ambitious ideas to revamp oversight of financial markets, in a nod to the political difficulties of pushing through sweeping changes, people familiar with the process say.

At issue is whether officials want to reorganize the basic structure of oversight, or whether they will settle for new rules at existing agencies that would accomplish the same goal.

Many of the ideas under consideration could trigger a turf war on Capitol Hill and among government agencies. People involved in the process said that as a result, the plan could still break in several different directions.

Among the ideas being actively discussed are a new agency to oversee banks, as well as a merger of the Securities and Exchange Commission and Commodity Futures Trading Commission. House Financial Services Committee Chairman Barney Frank (D., Mass.) has already said he doesn't think such consolidation will happen, and his support would be integral to any major policy shift.
....
That idea, which became public last week, prompted an immediate rebuke from SEC Chairman Mary Schapiro, who has been battling to preserve her agency's clout.

http://online.wsj.com/article/SB124355895071464943.html#mod=rss_whats_news_us

[babylonsister]

1. Let's rumble, wsj. Ugh.

Making a story out of one that isn't? The only one mentioned is Barney Frank, who doesn't think it will happen.

Desperate much?

And yes, I read about this earlier, but really.

[SpartanDem]

2. I gotta disagree

it not like these DC pissing matches are not uncommon no committee or agency likes to see it's power stripped.