WASHINGTON (DOW JONES) -- Senate Banking Committee Chairman Chris Dodd, D-Conn., said Wednesday he supports the idea of a federal systemic risk regulator.
"You need a systemic risk regulator," Dodd said, taking questions from reporters after a speech at the U.S. Chamber of Commerce. "The question is who is going to perform that function?"
The Federal Reserve already has many responsibilities and creating a new entity to act as a systemic risk regulator would be a daunting task, Dodd said.
By Meena Thiruvengadam, Dow Jones Newswires; 202-329-0693; meena.thiruvengadam@dowjones.com
(END) Dow Jones Newswires
March 11, 2009 11:47 ET (15:47 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 11 47 AM EDT 03-11-09
Wednesday, March 11, 2009
Regulation Drumbeat Gets Louder, Dodd Has No Quick Fix as Uncertainty Grows
WASHINGTON (DOW JONES) -- Senate Banking Committee Chairman Chris Dodd, D-Conn., said Wednesday he supports the idea of a federal systemic risk regulator.
"You need a systemic risk regulator," Dodd said, taking questions from reporters after a speech at the U.S. Chamber of Commerce. "The question is who is going to perform that function?"
The Federal Reserve already has many responsibilities and creating a new entity to act as a systemic risk regulator would be a daunting task, Dodd said.
By Meena Thiruvengadam, Dow Jones Newswires; 202-329-0693; meena.thiruvengadam@dowjones.com
(END) Dow Jones Newswires
March 11, 2009 11:47 ET (15:47 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.- - 11 47 AM EDT 03-11-09
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1 comment:
Dodd and the rest of these men attempting to steer the ship are clueless. Bush was bad, Obama and his democrat Congress 10X worse.
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