US Treasury secretary Tim Geithner met immediate resistance in Congress to his regulatory reform package on Thursday as senators from both parties questioned the Obama administration’s plan to grant new systemic risk powers to the Federal Reserve. At a hearing of the Senate banking committee, Geithner insisted the Fed was the “best positioned” regulatory body to guard against risks to the financial system.

This entry was posted by Gwen Robinson on Friday, June 19th, 2009 at 4:55 and is filed under Capital markets. Tagged with Tim Geithner. Edit this entry.