House Financial Services Committee Chairman Barney Frank, D-Mass., and Treasury Secretary Timothy Geithner have differences over how best to regulate the financial system and spot potential meltdowns before they happen. Mr. Frank wants a council of regulators, while Mr. Geithner wants to make the Federal Reserve the sole regulator. The Financial Services Roundtable supports a sole systemic-risk regulator. "You can't regulate by committee," said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable.
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