Faced with mounting criticism from regulators and lawmakers from both parties on the Obama administration's regulatory reform plan, Treasury Secretary Tim Geithner did little last week to address problems with the proposal and gave no sign he was willing to compromise.
Geithner reiterated calls to give the Federal Reserve Board systemic risk oversight, repeating claims it was only a modest increase in power, while insisting that consumer protection oversight must be stripped from banking regulators and placed in a new agency.
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