06-16-2009, 11:41 AM
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#1
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Banned
Join Date: Dec 2004
Location: IGNORE LIST OR BAN LIST
Posts: 7,839
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Obama plan to give the government new powers to seize key companies
Obama to propose strict new regulation of financial industry - Los Angeles Times
Quote:
The Obama administration this week will propose the most significant new regulation of the financial industry since the Great Depression, including a new watchdog agency to look out for consumers' interests.
Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies -- such as insurance giant American International Group Inc. -- whose failure jeopardizes the financial system. Currently, the government's authority to seize companies is mostly limited to banks.
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