Geithner reportedly abandons push to merge SEC, CFTC

06/5/2009 | Bloomberg

Treasury Secretary Timothy Geithner convinced lawmakers at a dinner that he will not push for a merger of the Commodity Futures Trading Commission and the Securities and Exchange Commission, sources said. The proposal already faces opposition in Congress, with Barney Frank, chairman of the House Financial Services Committee, saying resistance from "entrenched interests" makes the move impossible.

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