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Treasury chief: Need more powers

March 24th, 2009 . by TexasFred

Treasury chief: Need more powers

WASHINGTON – Treasury Secretary Timothy Geithner asked Congress on Tuesday for broad new powers to regulate nonbank financial companies like troubled insurer American International Group whose collapse could jeopardize the economy.

“AIG highlights broad failures of our financial system,? Geithner told the House Financial Services Committee. “We must ensure that our country never faces this situation again.?

At the same time, Federal Reserve Chairman Ben Bernanke revealed that he had considered filing suit to keep AIG from paying millions in executive bonuses but that his legal advisers counseled him against it.

Geithner acknowledged that the current climate of anger, including the furor over those retention bonuses, will complicate any effort by the Obama administration to get more bailout money from Congress. “We recognize it will be extraordinarily difficult,? he said.

The administration sought to use that rancor to build support for its financial overhaul proposals.

Full Story Here:
Treasury chief: Need more powers

What’s that Lassie?? You say Lil’ Timmy fell in the well?!?! Oh, good girl Lassie, good girl, have some doggie treats and let the stupid son of a bitch STAY in the well!!

Here is ALL you need to know about giving MORE POWER to a dingbat that’s placed in charge of the U.S. Treasury and he can’t even do his OWN income tax return.


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