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03/14/10
Fed may monitor top financial houses
Filed under: General, Finance
Posted by: Lillian Wong @ 2:32 pm

WASHINGTON - The Federal Reserve, still dusting itself off from a fight that threatened to trim its powers, could emerge from a congressional overhaul of banking rules as the top cop over the nation’s largest financial institutions.

Senate negotiators are considering giving the Fed the authority to supervise non-bank financial institutions that are so large and intertwined that their failure could pose a risk to the entire economy, according to people familiar with the evolving legislation.  more…



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