Wednesday, April 01, 2009

Sen. Dodd favors split in financial regulation overhaul


Two key U.S. financial regulation reforms -- bringing systemic risk into focus and coping with failing firms -- should be handled separately, not by one agency, a key U.S. lawmaker said on Thursday.

Senate Banking Committee Chairman Christopher Dodd also said at a committee hearing that it was an "open question" whether the U.S. Federal Reserve should become a "systemic risk regulator," a potential reform that some lawmakers favor.

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