Shifting the fed’s power
March 17, 2010 | alternatives, federal legislation, industry | Comments (0)The Washington Post’s take on the Dodd bill:
In the details of the financial reform legislation introduced this week are fundamental changes to the Federal Reserve that would shift power from the regional Fed banks around the country and concentrate it in Washington and New York.
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Regional Fed banks that do not have many large banks in their districts could see their staff and authority shrink, reducing these banks to something akin to regional economic think tanks rather than powerful overseers of the financial system.
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