U.S. Seeks Expanded Power to Seize Firms

The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, according to an administration document.

The government at present has the authority to seize only banks.

Complete article at:
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/23/AR2009032302830_pf.html

By Binyamin Appelbaum and David Cho
Washington Post Staff Writers
Tuesday, March 24, 2009; A01

Advertisements

One Response to “U.S. Seeks Expanded Power to Seize Firms”

  1. CountDown Says:

    How much fun would it be if the hedge fun “we” seized was Soros’?

    Wouldn’t be the first time the vicious pit bull turned on it’s owner!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: