Wednesday, July 22, 2009

Treasury: Only Fed Fit to Do Systemic Exams

Only the Federal Reserve is fit to perform exams of the largest, most systemically important financial institutions, siad senior U.S. Treasury Department official Deputy Treasury Secretary Neal Wolin.

"With respect to the regulation of what we have called Tier 1 Financial Holding Companies, the Federal Reserve is the only regulatory body with the experience and with the deep and broad understanding of the capital markets," said Wolin.

How fit are they?

Watch Bernanke's masterly understanding of the economy:

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