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March 24th, 2009
10:45 AM ET

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Talking Points Memo
Josh Marshall

According to the Post's A1 story tomorrow, the administration is 'considering asking Congress' (i.e., this is a trial balloon) to give the Treasury Secretary powers to seize non-bank financial institutions: in other words, the Lehman Brotherses and AIGs of the financial world.

Also in the background is the emerging debate about what government agency is going to take on the new role as 'systemic risk regulator' - the Fed? or some new agency yet to be created. This is an issue that Elana Schor has been writing about at TPMDC. And it seems to be swirling in the background in the spat between the White House and Sen. Dodd.

Read more...


Filed under: 360º Follow • Bailout Turmoil • Economy • Treasury Secretary
soundoff (5 Responses)
  1. Michael "C" Lorton, VA

    Why would want to seize non-bank institutions when you paid for them?

    March 24, 2009 at 2:55 pm |
  2. Larry

    Soon we'll have Hugo Chavez advising the President.

    March 24, 2009 at 2:38 pm |
  3. diane epstein

    I do not understand why we are giving money to Bank of America when they can buy Countrywide and Merriel Lynch???? They must have money....also they are not checking who of the banks really need the money and why? Northern Trust only allows people to bank their if they deposit $500,000. There lunch in there kitchen is gourmet....check them out....

    diane
    Cleveland TN

    March 24, 2009 at 11:37 am |
  4. meenas17

    Nationalisation is the only way out. It is against privatisation, but is an easy and a firm procedure to put the economy in the right direction. Congress should sanction this agenda.

    March 24, 2009 at 11:21 am |
  5. Melissa

    On the one hand, it would probably give better control over such situations as the tanking of the economy. On the other hand, it just seems wrong somehow.

    This is very extreme. I'm a full Democrat/Liberal and always have been but that doesn't mean I agree with Communism which is what this seems. I agree with Socialism which is different.

    Canada isn't going through nearly the troubles that the US is so why not ask them how they're doing it? Its the regulations that need to change. There's no need to go to such drastic extremes as what Geithner is proposing.

    March 24, 2009 at 11:18 am |