| US Fed may get more powers: report |
| BS Reporter / Mumbai March 31, 2008 |
| The Bush administration is proposing the broadest overhaul of Wall Street regulation since the Great Depression, according to a report on the website of The New York Times. Although the proposal would impose the first regulation of hedge funds and private equity funds, that oversight would have a light touch, enabling the government to do little beyond collecting information - except in times of crisis. The plan will hand vast new authority to the Federal Reserve, essentially formalising what has been an improvised process over the last three weeks but some fear that the central bank |
