Dodd upsets banks with plan for a single bank overseer

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Dandelion Salad

By Kevin G. Hall and David Lightman
McClatchy Newspapers
Nov. 10, 2009

WASHINGTON — A key Senate committee chairman unveiled a sweeping 1,136-page bill Tuesday that, if enacted, would mandate the most comprehensive overhaul of financial regulation since the Great Depression.

The legislation would affect both average Americans and the well-heeled on Wall Street. It would bring unregulated entities such as hedge funds under closer supervision, give the government the power to shut down large financial firms, and merge numerous federal banking regulators under a single roof.

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via Dodd upsets banks with plan for a single bank overseer | McClatchy

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