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US Bank Regulators Dig In Against Obama Shake-Up

Posted By admin On August 4, 2009 @ 11:05 am In Money Watch | Comments Disabled

CNBC [1]
Tuesday, August 4, 2009

Top U.S. bank regulators spoke out Tuesday against key elements of the Obama administration’s plan to reshape financial regulation, calling some parts unneeded or disruptive.

The officials’ defiance, voiced at a Senate Banking Committee hearing, came despite a warning from Treasury Secretary Timothy Geithner on Friday.

In remarks punctuated with expletives at a private meeting, Geithner urged the regulators to end their turf battles and support President Barack Obama’s plan, said a person familiar with the situation on Monday.

But that seemed to have little impact on the regulators, who took issue with some of the administration’s proposals to tighten oversight of banks and capital markets amid the worst financial crisis in decades and with the economy in recession.

Full article here [1]

US Bank Regulators Dig In Against Obama Shake Up  290509banner [2]


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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/32282639

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] Geithner Warns Regulators to Back Reform Plan: http://www.prisonplanet.com/geithner-warns-regulators-to-back-reform-plan.html

[4] U.S. Regulators Stand Ready With More Bank Capital: http://www.prisonplanet.com/us-regulators-stand-ready-with-more-bank-capital.html

[5] IndyMac Bank seized by federal regulators: http://www.prisonplanet.com/indymac-bank-seized-by-federal-regulators.html

[6] Obama team weighs government bank to ease crisis: http://www.prisonplanet.com/obama-team-weighs-government-bank-to-ease-crisis.html

[7] Columbian Bank and Trust of Kansas Closed by U.S. Regulators: http://www.prisonplanet.com/columbian-bank-and-trust-of-kansas-closed-by-us-regulators.html

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