Wednesday, June 3, 2009

June 17th: Super Regulatory Friends Roll Out

The date is set people! The plan to fix everything once and for all will be given to us, courtesy of the Obama Administration, on June 17th, according to Reuters.

T to the mother f'n G will testify on June 18th in order to stammer through everything in painfully gruesome detail.

Long story/short. The Fed is going to make anything and everything its bitch, since it will be the "systematic risk regulator", Office of Thrift Services will merge with the Office of Comptroller Currency to oversee banks and the FDIC will be the Fed's right hand, having the superpower to unwind the AIG's of the world.

The Fed will still be the puppet master overseeing hedge funds, private equity, derivatives, and broker dealers, since they could all fall under "systematic risk". Me thinks that term is going to come in awful handy...

U.S. to unveil regulatory reform plan June 17: source [Reuters]
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