The tension builds
June 6, 2010 | federal legislation, industry | Comments (0)Not really, but the media likes to exaggerate things. From today’s New York Times:
“We’re on the verge of legislating sweeping reforms of our financial system, to fix what was broken in our system, recognizing that those failures in the United States were very consequential to the world as a whole,” Timothy F. Geithner, the Treasury secretary, said last week before leaving to meet with G-20 financial ministers in South Korea.
But first, Congressional negotiators must resolve substantial differences between the bills, which together total more than 3,000 pages and amount to the most extensive rewriting of financial regulations since the Great Depression. The process will begin formally on Thursday with a meeting of more than 20 lawmakers from both parties and both houses of Congress.
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