国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

WORLD> America
Battered US financial industry faces more oversight
(Agencies)
Updated: 2008-10-06 09:24

WASHINGTON - With the passage of the $700 billion rescue package, the financial industry will face greater congressional scrutiny in coming weeks and months.

Further-reaching regulation is almost certain. Previously obscure corners of the industry now subject to few rules, such as complex derivatives and hedge funds, could face federal supervision for the first time.


President Bush shakes hands with Treasury Secretary Henry Paulson at the Treasury Department in Washington after the House passed the $700 billion financial bailout bill, Friday, October 3, 2008. With the economy on the brink of meltdown and elections looming, a reluctant Congress abruptly reversed course and approved a historic $700 billion government bailout of the battered financial industry on Friday. President Bush swiftly signed it. [Agencies] 

Meanwhile, heavily regulated sectors, such as banking and insurance, are likely to face greater oversight. Even some financial industry groups support federal oversight for the insurance industry, which is now regulated only at the state level.

Related readings:
 Bailout signed, now it's wait and see its effects
 China hopes US bailout bill can stabilize markets

"Clearly, next year we will have more regulation," said Scott Talbott, a lobbyist for the Financial Services Roundtable, a group of the 100 biggest companies in the industry.

Having passed the bailout bill, Congress is now shifting its attention to its next steps.

"Passing this legislation is only the beginning of our work," said House Speaker Nancy Pelosi, D-Calif., just before the House approved the package.

Rep. Barney Frank, D-Mass., the Financial Services Committee chairman, said next year Congress will seek to overhaul housing policy and financial regulation in a legislative effort he likened to the New Deal.

"We were the EMTs rushing to the rescue of an economy that suddenly found itself choking, but now we have to perform more serious reform," Frank said.

The bailout bill, approved by the Senate Wednesday, provides $700 billion to buy bad assets from banks and other institutions to shore up the financial industry.

Hearings that begin Monday will examine the failures of current regulations. The House Oversight and Government Reform Committee, chaired by Rep. Henry Waxman, D-Calif., will hold two hearings on the causes and effects of Lehman Brothers' bankruptcy and on the $85 billion bailout of the giant insurer American International Group Inc.

   Previous page 1 2 Next Page  
盘山县| 锦州市| 都安| 时尚| 柳江县| 武冈市| 扎兰屯市| 广西| 兰州市| 内乡县| 芷江| 景德镇市| 成安县| 洱源县| 连云港市| 扎囊县| 和龙市| 镇原县| 双鸭山市| 商洛市| 池州市| 宁陕县| 孝义市| 北流市| 宽甸| 金华市| 陇南市| 安庆市| 孝昌县| 浪卡子县| 来安县| 兴山县| 涿州市| 新民市| 贵溪市| 泗水县| 义马市| 广元市| 和田县| 花莲县| 汽车|