Geithner Proposes New Wall Street Overseer

Treasury Secretary Timothy F. Geithner wants to create an independent regulator charged with ensuring that the companies involved in today's complex financial transaction don't ever bring the economy crashing down again. Among the targets for reform in his plan unveiled today: credit default swaps and other types of derivatives that have been blamed for exacerbating the economy's troubles. And hedge funds, which have become important market players in the last few years, would now be required...Full Story
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