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Secretary Paulson Proposes Financial Overhaul
By admin | March 31, 2008
, , , ,Big changes are in store for the U.S. financial system. Treasury Secretary Henry Paulson announced a list of goals earlier today that include a broad expansion of the ’s powers.
Under Paulson’s plan, the Fed would essentially serve as a financial markets moderator. If enacted, the changes would reportedly be largely invisible to consumers but would drastically alter how the financial services industry is regulated.
The Secretary of is stepping down amid several ethics investigation. Alphonso Jackson said earlier today that he’ll resign April 18 to attend to persona and family matters. The resignation comes after criticism from members of Congress that Jackson has refused to respond adequately to allegations of impropriety.
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