Stifle a yawn: Treasury Secretary Timothy Geithner and Larry Summers announce their plan for a regulatory overhaul in Monday’s Washington Post, but for the details of what exactly they are planning you’re better off reading the summary in The Wall Street Journal. “At the center of the plan … is a move to remake powers of the Federal Reserve to oversee the biggest financial players, give the government the power to unwind and break up systemically important companies—much like the Federal Deposit Insurance Corp. does with failed banks—and create a new regulator for consumer-oriented financial products.” The plan will require congressional approval. Geithner will appear before both the House and Senate on Thursday.
Read it at The Wall Street Journal
