All Commentary
Monday, March 21, 2011

Treasury Secretary to Flex New Regulatory Muscles

“Timothy F. Geithner soon will announce a decision that underscores just how much power last year’s far-reaching financial overhaul legislation ceded to the Treasury secretary. The Dodd-Frank bill signed into law in July allows Geithner to decide whether the vast market in foreign-exchange swaps — a type of financial instrument that businesses often use to guard against fluctuations in foreign-exchange rates — should be subject to heightened regulations as other derivatives are…. The coming determination is one element of Geithner’s broad new authority granted by the law.” (Washington Post)

Things weren’t bad enough — now he gets to name his own powers.

FEE Timely Classic
“Financial Regulation Snake Oil” by Chidem Kurdas