"A proposal circulated Tuesday by House Financial Services Committee Chairman Barney Frank (D., Mass.) would give the government multiple tools to crack down on companies that could pose a threat to the broader economy, part of an effort by the administration to prevent financial firms from becoming too big to fail."
"The measure would also give the Federal Reserve the power to direct any large financial holding company to sell or transfer assets or stop certain activities if the central bank determined there could be a "threat to the safety and soundness of such company or to the financial stability of the United States." This suggests the Fed would win new authority to order companies to shrink."
The Federal Reserve is not resbonsible to anyone already. Look at the wonderful job Barney Frank, and others, did with the Fannies! The 'free market" will be totally gone if this gets through. You get to big and we get you!
Wall Street Journal:
http://online.wsj.com/article/SB125667090769111065.html?mod=WSJ_hpp_LEFTTopStories
