Treasury’s Plan Would Give Fed Wide New Power

http://www.nytimes.com/2008/03/29/bu...gewanted=print

"Parts of the plan could reduce the power of the Securities and Exchange Commission, which is charged with maintaining orderly stock and bond markets and protecting investors. The plan would merge the S.E.C. with the Commodity Futures Trading Commission, which regulates exchange-traded futures for oil, grains, currencies and the like."

Interesting read.

No good can come of this....no good at all. It's only a matter of time before they want to regulate FX and impose ridiculous rules like the NASD has.

This is asinine. When will they learn? It's not about MORE regulation. It's about BETTER regulation.

Giving them too much power will be a hindrance to our financial wellfare and overall free-market system.

People seem to be divided into 2 categories: the Fed shouldn't have intervened the way it did and the Fed should've. Personally, I'm wondering what happened to the "time" component of all this. I think there should be a 3rd category of opinion: the Fed didn't act soon enough and efficiently enough.

If we give them more power, they'll never learn from their mistakes. What we need is an overhaul of the regulatory agencies by strengthening the power they do have, not by giving them more powers.

Agreed. And probably impose margin restrictions too... not that we need high margins to trade (good MM and all), but it would decrease the number of trades we can have open at a time.

Long story short they want more "self oversight" so they can get away with more dirty tricks while using it as an excuse to impose ridiculous rules against the rest of us. It's all about control and money, has nothing to do with trying to "fix" anything. Basically they act recklessly, get burned, get bailed out, then use that as an excuse to consolidate more power and shut out the competition.

Abolish the FEDERAL RESERVE!!!

I am always confused how this news effect trade sessions :surprised