Paulson intends to start the U.S. financial "most of" system reform.

<P> In under the weight of the subprime crisis, U.S. Treasury Secretary Henry Paulson today submitted to Congress a reform proposal to strengthen the mixed supervision. .This will be the U.S. financial regulatory system, the biggest adjustment of 80 years. .The 22-page-long reform program include: investment banks, hedge funds included in the scope of Federal regulation; merge the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission; the establishment of a "prudent financial management", to maintain a banking regulator .and so on. .</ P> <P> the Fed to expand their power </ P> <P> most important feature of the proposal is to give the Fed greater regulatory functions, the current Federal Reserve supervision of commercial banks only have privileges. .Proposals suggest that the Fed should be checked brokerage firms, hedge funds, commodity exchanges and other possible risk to the financial system caused by the power sector business practices, and even check the house to give the Fed the power of the accounts. .According to http://finance. News, the U.S. savings and insurance business is facing a federal regulation, by contrast, hedge funds, private equity firms and investment banks control less. .In this program, the Fed will allow investment banks borrow directly from the Fed, which previously only commercial banks. .This decision is the fifth largest U.S. assistance by the Fed Investment bank Bear Stearns caused. .For the Fed to investment banks do not control the debate, is the United States heating up. .This week, the U.S. Senate will hold hearings, specifically on the hearing aid Bear Stearns. .More people think that, since the investment bank to accept assistance from the Fed, it should be included in regulatory areas. .Under this plan, the U.S. monetary authorities will be basically integrated into the three large new bodies, in addition to the Fed, but also includes careful Monetary Authority (Prudential Financial Regulator Agency) and Business Administration (Business Regulatory Agency). .On the banking side, the regulatory authority is currently scattered in five U.S. federal agencies. .Paulson's proposal plan in the future they are the unified leadership of the Monetary Authority by the prudent, responsible for the new body by the Federal Deposit Insurance Corporation and other federal agencies to support the agency sent inspectors to the deposit. .The proposal also plans to close the existing savings within two years of the Authority. .Financial aspects of the company, the proposal plan to set up business Authority, responsible for all corporate behavior regulation. .The SEC proposal also preparing to cut the power, in addition to merger and Commodity Futures Trading Commission, the approval of new trading products, the functions will be decentralized exchange. .The proposal also the first time a regulatory body of insurance companies across the country to eliminate 50 different state regulators, low efficiency conditions. .</ P> <P> Congress for more stringent regulation </ P> <P> The program will be the U.S. financial regulatory system since the 20th century, 30 years since the Great Depression of the biggest adjustments. .U.S. Treasury Department in March 2007 to have been planned this reform, the deepening crisis then stimulated to accelerate the introduction of this program. .Paulson the U.S. Treasury Department today will deliver a speech on this program. .The project will generate intense debate in Congress, but it may eventually pass. .Some Democratic lawmakers, including House Financial Services Committee Chairman Barney Frank, is actively brewing other simplifies supervision. ."He has been reduced (although not eliminated) and the differences between the views of many Democrats." Frank said in a statement. .Frank is preparing to submit another "operation" program, calls for Wall Street investment banks, hedge funds and the rapid development of financial derivatives, such as credit default swaps, the implementation of more stringent regulation. .U.S. Treasury Department responsible for domestic finance, said Assistant Secretary David Nason, the Government's primary objective is to survive the current credit crisis, plans for this controversial change is likely to continue for several years. .Business groups have expressed support on Saturday, Paulson's plan, but many details have yet to be questionable. ."The current crisis is only the need for a simple, flexible and modern regulatory framework, our current system is not suited to these requirements." Competitiveness of the U.S. Chamber of Commerce in the financial markets, said David Hirschmann, director. .</ P> <P> </ P> Today recommended: * April Fool's Day pranks funny text messages [1-50] * April Fool's Day pranks funny text messages [51-100] * April Fool's Day pranks funny text messages [101-150] .* April Fool's Day pranks funny text messages [151-200] * April Fool's Day pranks funny text messages [201-250] * April Fool's Day pranks funny text messages [251-300] * Top Ten April Fool's Day pranks freshly alternative tactics 6 .April Fool movie with you over a group of spoofing the magic of your eyes and brain images the past 10 years the classic April Fool's Day fake news.