Geithner wants government to have power to shrink even healthy firms
Treasury Secretary Timothy Geithner testified before the House Financial Services Committee, advocating his proposal that would allow the government to force large financial firms -- even healthy companies -- to "shrink and separate" if it is determined that they pose a threat to the broader economy. Geithner's comments were in response to questions from Rep. Paul Kanjorski, D-Pa., who said proposed regulations seem to focus not on preventing large companies from getting too big but on how to cope with their collapse.
Wall Street Journal, The | 10/30
This story published in SIFMA SmartBrief on 10/30/2009
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