CNN Chief Business Correspondent
The free-marketers are all over the government's "power grab" to more closely regulate large non-bank financial companies.
We've heard everything from it's "unconstitutional" because it violates unlawful search and seizure laws.
Others say the idea that there is a regulator encourages failure because someone will bail you out.
These arguments hold little water.
The FDIC is universally seen as the most effective and most successful regulator through this entire recession.
Geithner today is using the argument that that is the model he suggests using.
He's right on this one.
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