Geithner urges Congress to approve derivatives regulation

07/13/2009 | Washington Post, The

At a rare joint meeting of the House Agriculture and the House Financial Services committees, Treasury Secretary Timothy Geithner said it is crucial that derivatives traders retain enough money to meet obligations. Geithner pressed lawmakers to approve the White House's plan for regulating the massive derivatives market. He acknowledged that Europe might not agree to the plan for the market, which is globally interconnected.

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