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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Bindare_Dundat on July 10, 2008, 08:11:02 AM
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They sure do sound confident about having a "free market". ::) Werent things juts fine and dandy a little while ago?
The heads of the Federal Reserve and the US Treasury have called for new regulatory powers to shield the economy should a Wall Street firm collapse.
Ben Bernanke and Henry Paulson told congress it needed to modernise the regulatory system so it could deal with modern crises.
Bear Stearns was the most high profile victim of the credit crunch - facing near collapse before it was bought out.
The calls came during a hearing of the House Financial Services Committee.