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And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:
And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. (Revelation 13:16,17)
Single-Regulator Plan for Banks Now Close
By DAMIAN PALETTA
Wall Street Journal
MAY 28, 2009
WASHINGTON -- Top Obama administration officials are close to recommending that Congress create a single regulator to oversee the entire banking sector, people familiar with the matter said, a departure from the hodgepodge of federal agencies that failed to contain the financial crisis as it ballooned out of control last year.
The new agency is expected to be a major plank in a proposal that Treasury Secretary Timothy Geithner and White House officials send Capitol Hill in a few weeks with the goal of overhauling supervision of financial markets.
Other components under consideration are an agency to police financial products offered to consumers and a beefed-up investor protection regulator.
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